Publisher Starbreeze Studios announced today that it has filed for reconstruction with the Stockholm District Court, with the company's CEO, Bob Andersson, leaving his position with the Swedish firm.
The company is hoping the move will help it get back on track, and has said it will continue to pay staff wages and developing games as per the norm. Just last week, the studio revealed that sales of its latest project, Overkill's The Walking Dead, were below internal expectations.
'The decision is based on a shortage of liquidity and deemed to be a necessary step to give the Company the time needed to negotiate a long-term financial solution and implement changes in the organisation and operations,' said Starbreeze.
In addition to Andersson stepping down as CEO, both he and Kristofer Arwin have also resigned from the Starbreeze Board of Directors.
'The reconstruction framework will include salaries to employees of Starbreeze and operations will continue as usual. During the reconstruction period, no payments can be made to suppliers for services or goods relating to the period prior to the date of filing for reconstruction,' the statement added.