Remember Me studio Dontnod dismisses bankruptcy reports

Remember Me developers Dontnod have dismissed earlier reports that it has filed for bankruptcy. Instead, the firm is under judicial reorganization which will allow it to "rezie" in order to continue working on current projects.

Speaking with GI International, the firm's CEO Oskar Guilbert said that any financial issues the firm may have faced are in the past.

"There are some rumors about the bankruptcy of Dontnod," he said. "There is no bankruptcy, Dontnod is not in bankruptcy.

"We are in something called in France 'judicial reorganization' which allows us to re-adapt our production pipeline to the new situation. Because as you know we finished a game called Remember Me for Capcom which was out in June 2013, last year. This game, I think it's important to mention, is number two in terms of downloads on PlayStation Plus in Europe, so it's a big success on the digital side at least.

"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."

How this works, is a judicial administrator is assigned to the case in order to oversee the company's "sustainability, settling liabilities and managing labor costs," according to GI.

Guilbert said the appointment allowed it to flexibly reduce costs. He was unable to comment on whether there would be any layoffs at the company.

"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," he said.

Earlier reports form multiple French outlets this morning via Gamasutra such as Factor News stated the studio had entered receivership, and financial site Societe stated the firm had legal representatives assigned to the case.

Remember Me was released on PS3 and Xbox 360 in the US on June 4, and across Europe on June 7, 2013 and was published by Capcom.