Austrian based game publisher JoWooD Entertainment will not be saved from insolvency. Based on this German report, all negotiations with potential investors have failed. JoWooD, well known for Euro centric PC games like the Gothic RPG series, AquaNox(under water FPS), Traffic Giant, The Guild and even Painkiller was in the news when they indefinitely put the expansion for Arcania: Gothic 4 on hold. The company filed for bankruptcy on January 2011 and it was expecting to find new investors to bail them out. It was reported that for first 9 months of this financial year, JoWooD made a net loss of € 25 million. The same period last year they barely managed a € 967,000 net profit. RIP JoWooD. The Gothic 4 expansion might be saved though as the rights to the title should fall back to the developers, Piranha Bytes.
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