German outlets have reported that Piranha Bytes is at risk of closing its doors for good.
Like with Free Radical last year, parent company Embracer is looking to find the German studio a new owner. If one can't be found, the staff will be laid off in full.
Founded in 1997, Piranha Bytes was originally owned by Phenomedia until 2002. Management then bought out the studio and its properties, and was self-owned until THQ Nordic acquired it in 2019.
The studio is responsible for the Gothic, Risen, and Elex franchises. Its most recent game was 2022's Elex II, and the original Gothic is being remade by Alkima Interactive.
On Twitter, Piranha Bytes confirmed it was in a "difficult situation," but the future wasn't written in stone. Of finding a new owner, it said it was "convinced we will succeed."
"We are focusing on this goal with all our strength, and will do whatever it takes to find a partner for this [new] project."
Game Developer reached out to Piranha Bytes for comment, and will update this story when a response is given.
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