According to a report on RPGWatch.com, the restructuring plans that were supposed to save the Austrian publisher JoWood Entertainment from liquidation have fallen through. Early January, JoWood officially filed for insolvency, but announced it was in negotiations with several parties, and remained confident that a suitable arrangement would be made within 90 days.
According to additional reports, JoWood Distribution Services, a daughter-company of JoWood Entertainment, also filed for insolvency today. Though no official statement has been made by JoWood, the application for a restructuring plan has been withdrawn, making it possible for liquidation of JoWood assets to commence within the next few days. As a result, trading of JoWood stock on the Vienna Stock exchange has been halted.
One of the most recent titles that have been published under the JoWood flag was Gothic IV. The game failed to become a commercial success, and the expansion that was originally scheduled for a release in late March was delayed indefinitely due to a legal struggle with one of JoWood’s largest investors.
The publisher was founded in 1995, and grew to become one of the largest publishers in the European market. Over the years, the company published several titles in the Spellforce, Gothic, and Painkiller series.