Remember Me Studio’s CEO Denies Bankruptcy Claims, Calling It “Judicial Reorganisation”
Reports coming in of French developer Dontnod Entertainment filing for “Redressement Judiciaire,” which is the equivalent to bankruptcy, have been abated by their CEO.
In an interview with GI.biz, Oskar Guilbert of Dontnod clarified:
There are some rumours about the bankruptcy of Dontnod. There is no bankruptcy, Dontnod is not in bankruptcy.
He went on to mitigate the reports by saying:
We are in something called in France ‘judicial reorganisation’ which allows us to re-adapt our production pipeline to the new situation. We started new projects and those […] need some investment and we decided to resize the company in order to match these new needs. That’s why we needed judicial reorganisation.
While it is correct that this doesn’t mean a total and immediate closure of the studio, this is still very much in line with declaring bankruptcy. In fact, it’s almost identical to a recent case, where publisher THQ filed for Chapter 11 bankruptcy.
This means that they can keep working, but they are in supervision by a judicial official to manage their debt. This could well end in the “resizing” leading to layoffs. In the most recent reports, Dontnod would employ over 70 employees.
There could be a way to save the company from the brink of failure. In the interview, Guilbert states:
We are also in close negotiations with one big partner; I cannot of course announce the name and say that but we are in very close negotiations for our next project with one of the top publishers
Remember Me didn’t really hit its mark with consumers when it released. According to online reports, it would have sold fewer than 400,000 copies since June of 2013.
Remember Me was featured as a Playstation Plus game in Europe in November and is available through that program now in North America.