The company had to file for reconstruction (the Swedish term for administration, a legal procedure that uses the company’s assets to repay creditors) late last year after a “shortage of liquidity” meant that the company wasn’t making enough money as it had predicted.
However, in a press release published on the 11th of October, Starbreeze provided an estimate of the company’s future cash flows. The estimates are positive, with the company citing “new publishing agreements in 2020” along with PAYDAY 3’s release in the years to follow.
You can check out a graph of the company’s estimated cash flow below. Note that the graph shows the cash flow before any repayment to creditors is made.
Starbreeze provided the following list of “expected events” as its reasoning behind the graph:
- Release of PAYDAY 3 estimated to take place in 2022–2023
- Publishing agreement for PAYDAY 3 concluded* during the first half of 2020 and an initial payment instalment is received, after which the continued development of the product is financed by the publishing partner
- Publishing agreement for PAYDAY: Crime War concluded* during the first half of 2020 and an initial payment instalment is received, after which the continued development of the product is financed by the publishing partner
*In conjunction with the signing of these publishing agreements, the possibility of payment to the creditors is created in the ongoing reconstruction work. The payment to the creditors is estimated to be able to amount to approximately SEK 40 million.
Note: 40 million Swedish Krona is approximately £3,223,000 or USD$4,079,400.
The reconstruction work at Starbreeze is continuing and the company “intends to present a reconstruction plan shortly.” If all goes well, we’ll be seeing PAYDAY 3 within the next four years.