Remember Me developer Dontnod is not bankrupt, but has entered a process of 'judicial reorganisation' to overcome financial struggles and fund 'new projects', CEO Oskar Guilbert has said in a statement.
"There is no bankruptcy, Dontnod is not in bankruptcy," Guilbert told GI.biz after a French publication sparked reports that the company had entered 'receivership', meaning that it cannot pay back its creditors, who will now seek to make their money back by acquiring company assets.
"We are in something called in France 'judicial reorganisation' which allows us to re-adapt our production pipeline to the new situation," Guilbert added.
Judicial Reorganisation involves a Court-appointed Administrator overseeing the financial restructuring of firms struggling with debt, including managing labor and liability costs.
Guilbert went on to claim that Dontnod's financial troubles have passed, as it seeks partnership with a new 'top publisher' for unannounced new projects.
"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 reorganisation," he said.
"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."
Dontnod was founded in 2008 and, by 2010, had about 100 staff on board. However, its first game, the 2013 release Remember Me, failed to sell in notable numbers, meaning a return on investment was highly unlikely.