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Site Navigation Main    News    Forums Games    Games Database    Top 100    Release List    Support Files Features    Reviews    Previews    Interviews    Editorials    Diaries    Misc Download    Gallery    Music    Screenshots    Videos Miscellaneous    Staff Members    Privacy Statement   Phenomedia files for insolvency: Potential threat for Gothic 2! Posted by Moriendor @ Tuesday - May 14, 2002 - 16:14 - Top | Game Info | Homepage I listened to the radio when driving home from work a couple of hours ago and German radio station 1Live mentioned in the 8PM news that German developer/publisher Phenomedia has now filed for insolvency. I've been looking for a written confirmation since then and finally found it at German Gamesticker who link to this article at Financial Times Germany, confirming the bad bad news. Phenomedia recently got into trouble because of a false quarterly financial report and a false preliminary annual financial report. Two members of the board of executives were immediately fired by the supervisory board when the fake reports became public. Following up, Phenomedia hired a team of external consultants to investigate on the true financial status of the company. First reports were indicating that Phenomedia was not in a dangerous debt situation. As we painfully learnt today, they were wrong. Now, how does all this relate to Gothic? Well, Piranha Bytes, developer of Gothic I+II is a 100% subsidiary of Phenomedia. Let's all hope that JoWood, the publisher of Gothic II is somehow going to keep the Piranhas alive...

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