arcadia-gothic-4 posts

The Austria-based game publisher JoWood is in a bit of a financial pickle. Today the company announced that it has filed for material insolvency after "all efforts towards restructuring of capitalization concerning outside capital as well as equity capital had to be considered as failed."

The press release is optimistic, saying that it hopes JoWood can continue with business and hopes that "negotiations with creditors and possible investors can be positively conducted and finalized within 90 days." JoWood and its North American subsidiary Dreamcatcher Interactive, released the fantasy RPG sequel Arcadia Gothic 4 last fall with plans to release an expansion pack for that game later in 2011. Another game, the RTS-RPG expansion pack Spellforce 2: Faith In Destiny, is due out later in January.