Thunderful Group is facing new challenges as the company prepares for a major sale of shares and layoffs
The Swedish holding company Thunderful Group is on the brink of bankruptcy. It announced that to protect itself from financial collapse, it is compelled to take several serious measures, including restructuring.
- Thunderful Group intends to issue shares worth 55 million Swedish kronor (5.7 million USD). Company Atari has preliminarily agreed to buy the new shares. If the deal goes through, Atari will become the owner of 82% of the holding. Note: the issuance must first be approved by existing shareholders at an extraordinary meeting.
- Thunderful Group has asked Danske Bank to extend the term of a previously issued loan of 10.5 million euros until September 30, 2026. The bank has agreed.
- The holding will lay off some employees in its development studios and publishing division.
- Martin Walfisz, CEO of Thunderful Group, will resign. He is currently seeking a successor.
Additionally, Thunderful Group revealed that the sales of the game Lost in Random: The Eternal Die did not meet their expectations. Partly for this reason, the last quarter was difficult for the holding.