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Gothic publisher JoWooD Entertainment files for bankruptcy

Publisher JoWooD Entertainment recently filed for bankruptcy.  The Austrian company, which is most famous for publishing the Gothic series – and more recently, Torchlight in European territories – made a formal request to the Vienna commercial court for capital reorganization, a last resort for companies in financial trouble.


Above: An image from Gothic 3 (2006). The Gothic series has been commonly praised for its gorgeous visuals and jeered for its game-stopping bugs

But despite its financial woes, JoWooD expects to be able to engage in “successful discussions” with its investors and creditors “within 90 days.” News of the bankruptcy comes amidst a lawsuit with publisher Koch Media. JoWooD claims that Koch Media underpaid for about $6.4 million worth of shares, which JoWooD representatives say amounts to the tune of approximately $3.04 million owed.

According to a representative for JoWood, “a final court decision will be rendered only after tedious proceedings that could last for several years,” suggesting that the ongoing lawsuit with Koch Media won’t be resolved anytime soon.

[Source: GameIndustry.biz]

Jan 11, 2011

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8 comments

  • MattCrinos - January 12, 2011 7:10 p.m.

    Noooo... Not JoWood... I wasn't a fan of gothic particularly (It was alright like) But I'm mainly mourning Industry Giant! Noooooo! That's it. I'm going on Steam and buying every game by them. Because that's what student loans are for.
  • Sevej - January 12, 2011 4:27 p.m.

    Huge gothic fan here. Sad to see them go.
  • Voltaire - January 12, 2011 3:23 p.m.

    I loved their games all of them were brilliant
  • Snowyjoe - January 12, 2011 12:19 p.m.

    I loved Gothic 3..... /sigh. There goes another unique developer....
  • The4X - January 12, 2011 5:58 a.m.

    The farther the less old developers & publishers remain
  • KnightDehumidifier - January 12, 2011 5:13 a.m.

    I mourn you, makers of Silent Storm.
  • ColonelKc - January 12, 2011 2:23 a.m.

    *Activision
  • ColonelKc - January 12, 2011 2:23 a.m.

    Never played the Gothic games, but its still sad to see a company go. (Unless its Activition ofcourse :D)

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