JoWooD Entertainment, an Austrian publisher, has announced it has filed for the Austrian equivalent of Chapter 11 last Friday. The most recently released title by the publisher, Arcania: Gothic IV, failed to become an immediate success, which apparently pushed JoWood further into financial problems. In the past, JoWooD published titles such as SpellForce: The Order of Dawn from 2003, its sequel from 2006, as well as Gothic II and Gothic III. The company also operated as a large publisher for games aimed specifically at the German market. Last year, the company published the European retail version of Torchlight.
In a statement released by the company, the management of JoWooD expresses confidence that negotiations with external parties will be concluded within three months, so that the activities of the organization can be continued.