×
You will be redirected back to your article in seconds

Starbreeze Reconstruction Extension Granted

Games publisher Starbreeze was granted an extension for its reconstruction by the Stockholm District Court on Friday, according to a news brief from the company (via GamesIndustry.biz).

Starbreeze’s reconstruction period has been extended through to September 3, 2019, according to the news brief. The company originally filed for reconstruction in December of last year.

Starbreeze is the publisher that is struggling to keep itself above water after numerous setbacks occurred since last year. Disappointing sales of “Overkill’s The Walking Dead” and mismanagement which culminated in the studio getting raided after reports of insider trading surfaced have resulted in the company’s refocusing on its core business in an effort to set things right.

Last month, Starbreeze revealed that it doesn’t have the funds to keep afloat for the following 12 months. Subsequently, it finalized the sale of its Indian subsidiary Dhruva to Rockstar which perhaps gave the company some much needed funds.

Hopefully, the extension will give the publisher the extra time it needs to get back on track.

 

Popular on Variety

More Gaming

  • Apple Arcade

    Apple Officially Launches Apple Arcade Game Subscription Service

    Apple officially cut the ribbon for its new game subscription service Thursday: Priced $4.99 per month, Apple Arcade offers unlimited access to over 100 exclusive games. Apple Arcade was released alongside iOS 13, the latest version of Apple’s mobile operating system. Some of the titles available through the subscription package include “Lego Brawls” from Lego [...]

  • Venn co-founders

    VENN Raises $17 Million to Launch a Cheddar-like TV Network for Gaming

    Video game industry veterans Ariel Horn and Ben Kusin have raised a massive $17 million seed funding round to launch a new gaming-focused TV network called VENN. Short for Video Game Entertainment and News Network, VENN wants to mix esports with Twitch-style video game streaming and other gaming-related entertainment content when it launches in 2020. [...]

  • JoJo Siwa'The Angry Birds Movie 2'

    Nickelodeon Star JoJo Siwa Gets Her Own Dance-Tour Mobile Game (EXCLUSIVE)

    Fans of JoJo Siwa will be able to join the teen influencer’s dance squad on stage — virtually — in a new mobile game. In “JoJo Siwa — Live to Dance,” players will become part of the Nickelodon and YouTube star’s worldwide tour on her professional dance team and experience what it’s like to be [...]

  • Game Awards OrchestraThe Game Awards, Show,

    The Game Awards 2019 Sets December Date, Will Live-Stream Across 45 Platforms

    The Game Awards 2019, the fifth annual video game industry kudosfest, will be held Dec. 12 in Los Angeles and will be live-streamed for free again on more than 45 different platforms worldwide. The Game Awards is an annual celebration of video games and the people who make them, created and executive produced by Geoff [...]

  • HTC Vive Cosmos

    HTC Replaces HTC Vive With New $699 Vive Comos VR Headset

    HTC is getting ready to retire the headset that was central to its expansion into the virtual reality market 3 years ago: The company announced on Thursday that its new Vive Comos headset will effectively replace the original HTC Vive, which was first released in April of 2016. “It was time to upgrade our consumer [...]

  • Sohu logo

    China's Sohu Seeks Games Consolidation With $500 Million Bid for Changyou

    Sohu, one of China’s Internet pioneers, is offering to buy out its games subsidiary Changyou in a deal that values Changyou at $532 million. Both companies currently have their shares listed on NASDAQ, but if the deal goes ahead Changyou would lose its separate stock listing. Sohu, which has interests covering search, digital advertising and [...]

More From Our Brands

Access exclusive content