Future of JoWooD uncertain as investor loses interest
Bankrupt Gothic 4 publisher halts development of expansion amid ongoing insolvency troubles
Bankrupt publisher JoWooD faces an uncertain future after a potential investor withdrew its interest.
According to insolvency organiser Helmut Platzgummer, an unnamed party made it clear that they no longer planned to invest - although apparently two other investors are still interested in the firm, reports the Austrian Independent.
The Vienna-based company, best known for role-playing series Gothic, has been seeking new investment since filing for insolvency earlier this year – the board at that time claiming they could conclude discussions with creditors within 90 days.
JoWooD also issued a press release confirming that a planned Gothic 4 expansion, ArcaniA – Fall of Setarrif, had been cancelled indefinitely due to "legal uncertainty" with Stefan Berger, the company's business development manager, saying: "It's uncertain whether the game can be released onto the market in its current form".
JoWooD employs around 90 staff and is currently pursuing a lawsuit against fellow publisher Koch Media, claiming the German firm owes JoWooD €2.36 million ($3.04 million), plus interest, for shares purchased in 2006.