Paris based developers Dontnod Entertainment are reportedly filing for bankruptcy this morning, according to Gamasutra. Several French websites have been confirming the story, including the financial website Societe, which reports the Studio have both filed for bankruptcy and been assigned legal representatives.

Dontnod Entertainment’s debut title, Remember Me, was published through Capcom last year. The game received mixed yet positive reviews; most celebrated for its visual strengths but lacking in the combat department. Despite this, Remember Me didn’t quite capture the attention of the market, which no doubt led to this unfortunate development for the game’s studio.

Update: According to Dontnod’s CEO Oskar Guilbert, the studio are not filing for bankruptcy but have instead entered ‘judicial reorganisation.’ This means a judicial administrator has been appointed to oversee the company to manage sustainability and costs, though it is also a stage within the French bankruptcy system.

Guilbert told Gamesindustry today, “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 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.”