Remember Me dev Dontnod enters 'judicial reorganization' following financial struggles
Remember Me developer Dontnod Entertainment is in financial mire, but CEO Oskar Guilbert claims the company isn't on the brink of bankruptcy. Speaking to GI.biz, Guilbert dismissed reports coming out of France today that the Parisian company is in fatal trouble after it entered "judicial reorganization" this week.
"We started new projects and those new projects need some investment and we decided to resize the company in order to match these new needs. That's why we needed judicial reorganization," Guilbert asserted to GI.Biz today. "I cannot say that we have no financial difficulties, we have some, but I think that now they are behind us, not in front of us."
Judicial reorganization or redressement judiciaire is a similar process to receivership, where the French courts appoint an administrator to oversee a company's restructuring when it fails to pay its debts. The process can be drawn out over many months, but it's often a precursor to liquidation.
Guilbert says Dontnod is in "close negotiations with one big partner," presumably to take over, and in "very close negotiations for our next project with one of the top publishers."
Despite being published by Capcom, Remember Me was a game that struggled to live up to its name, both critically and seemingly at retail; Capcom failed to even note the game in its financial brief for the quarter following its release last summer. In March 2013, Dontnod received 200,000 euros from France's National Center of Cinematography, apparently for a separate project denoted as "What if?" - here's hoping that isn't an ominous name too.
"We started new projects and those new projects need some investment and we decided to resize the company in order to match these new needs. That's why we needed judicial reorganization," Guilbert asserted to GI.Biz today. "I cannot say that we have no financial difficulties, we have some, but I think that now they are behind us, not in front of us."
Judicial reorganization or redressement judiciaire is a similar process to receivership, where the French courts appoint an administrator to oversee a company's restructuring when it fails to pay its debts. The process can be drawn out over many months, but it's often a precursor to liquidation.
Guilbert says Dontnod is in "close negotiations with one big partner," presumably to take over, and in "very close negotiations for our next project with one of the top publishers."
Despite being published by Capcom, Remember Me was a game that struggled to live up to its name, both critically and seemingly at retail; Capcom failed to even note the game in its financial brief for the quarter following its release last summer. In March 2013, Dontnod received 200,000 euros from France's National Center of Cinematography, apparently for a separate project denoted as "What if?" - here's hoping that isn't an ominous name too.
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