JoWooD's Future Uncertain as Unnamed Investor Loses Interest

March 23, 2011 -

According to the company handling Vienna-based publisher JoWooD's insolvency, an unnamed investor has withdrawn its interest in the company. Insolvency organizer Helmut Platzgummer does say that two other investors are still interested in helping JoWooD with its cash flow problem.

The Vienna-based company is best known for role-playing series Gothic. The company has been actively seeking new investment since filing for insolvency earlier this year. At that time, the company's board claimed that it could conclude discussions with creditors within 90 days.

Things are not looking good for the company at the moment. Recently it announced that the Gothic 4 expansion, ArcaniA – Fall of Setarrif, had been cancelled due to "legal uncertainty." JoWooD business development manager Stefan Berger of the expansion: "It's uncertain whether the game can be released onto the market in its current form." He should have probably thought that way about Gothic 4.

JoWooD has around 90 employees. The company filed a lawsuit against publisher Koch Media, claiming that the German firm owed it €2.36 million ($3.04 million) plus interest, for shares purchased in 2006.

Source: GI.biz

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