Remember Me developer Dontnod is reportedly filing for bankruptcy, according to a number of French media outlets including games website Factor News.

The Paris-based studio is said to have filed for "redressement judiciaire," an equivalent to bankruptcy in France, while financial website Societe states the company has already been assigned legal representation. We've reached out to the developer for further information regarding the status of the studio.

Dontnod was founded by Criterion's Oskar Guilbert and released its first title Remember Me last year. Published by Capcom, the game launched on PlayStation 3, Xbox 360 and Windows PC following a slight delay for its release in Europe.

Remember Me received an 8 out of 10 review from Polygon, which states the game "suffers when it pushes its design beyond the capabilities of its mechanics, when its gameplay ambitions exceed its capacity to meet them.

"Most games would falter under the weight of those mechanical complications, and Remember Me eyes trouble the most pointedly when it falls prey to overused video game conventions. But Remember Me's fiction and world-building make it more than just another running, jumping and climbing-oriented beat-'em-up - they make it a future worth exploring."

Update: Dontnod CEO Oskar Guilbert is dismissing reports that the studio is bankrupt, telling GamesIndustry International that earlier financial issues are no longer a problem for the company.

"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," said Guilbert.

Judicial reorganization appoints an administrator to oversee the company's sustainability while settling liabilities and managing labor costs. According to Guilbert, this method will help the studio reduce its costs.

It remains unclear if jobs will be cut, however. Polygon has reached out to the company for more details.