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Single post: JoWood anunta Painkiller: Redemption
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Senior Member
E clar ca sunt la rascruce acum si vor face pe dracu in patru sa scape de faliment. Cu Gothic 4 au dat-o in bara cam rau.
....Jowood had to apply for a procedure of capital reorganization and mentioned, among other things, the bad sales of „Arcania – Gothic 4“ and „Yoga“ being responsible for the insolvency.
The company is being plagued by debts of 24 million euros, with existing assets of just about 4 million euros. Still, the Austrians stress their optimism. They are already negotiating „with a handful of investors“ and have progressed into an advanced phase. The company confirmed that among the investors, there are finance investors as well as financial sponsors from the computergame industry. A rescue is within hands reach, and because of that JoWood isn’t thinking about cutting jobs.
However, any certainty about the future may not come before April the 7th. At that day the capital reorganization procedure ends, and a rescue will either have been succesful or will have failed. The responsible insolvency administrator has not been willing yet, to give a comment.