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June 21, 2021
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 Payday  maker  Starbreeze  settles debts with majority of creditors

Payday maker Starbreeze settles debts with majority of creditors

December 4, 2020 | By Chris Kerr

Payday maker Starbreeze has paid off the majority of its creditors, settling all debts categorized as Supplier creditors and Small supplier creditors. 

The payments were part of the company's reorganization plan, which saw the Swedish studio refocus much of its business in a bid to stay above water. 

"After this debt settlement, only part of the debt to Nordea and debt related to Convertible bond and related refinancing costs remain," reads a company statement. 

"The payments that now been made have resulted in all Supplier creditors and Small supplier creditors receiving a full refund and that the debt to Nordea has been amortized by approximately 50 percent. As previously communicated, the payments have been made with proceeds from the rights issue and to some extent existing cash."

The news comes a few months after Starbreeze announced development on Payday 3 is underway. It also arrives almost a year to the day since the studio exited reconstruction, with then CEO Mikael Nermark -- who departed back in October -- at the time suggesting the company was prepared to build upon its new foundation for "decades to come."

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