Piranha Bytes, the renowned developer behind the Gothic series, has reportedly shut down due to a prolonged crisis. Reports from CD-Action reveal that the studio ceased operations by the end of June 2024. The studio had been in financial turmoil for a long time, with hopes for a 3 million Euro cash injection that never materialized.

Employees started leaving as the crisis persisted, despite interest from potential investors. Embracer Group’s funding kept the studio afloat only until June 2024. Plans for a new dark fantasy game using Unreal Engine 5, inspired by Gothic, were in motion, but they could not prevent the shutdown.

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The studio has not made an official statement about its closure. Michael Rueve, the current president, has remained silent on the matter. Piranha Bytes, founded in 1997 and known for Gothic and Risen series, faced a tough journey after being acquired by Phenomedia in 1999 and later by THQ Nordic in 2019.

The studio’s closure is part of a broader trend of layoffs and financial issues affecting Embracer Group’s subsidiaries.