Gothic and Elex Studio Piranha Bytes Has Reportedly Been Shut Down

Embracer Group announced earlier this year that its months-long internal restructuring process that resulted in thousands of layoffs and multiple studio closures had come to an end, though it seems we’re still feeling the aftershocks. Reports claim Piranha Bytes has now also been shut down.

As per Polish outlet CD Action, anonymous sources have revealed that Piranha Bytes shut its doors at the end of June. The studio was allegedly looking for external investments in the lead-up to its closure in the hopes of being bought out, but after being unable to secure the necessary investment, it was forced to shut down.

The report claims the developer had intended to work on a new dark fantasy RPG similar to Gothic, and it would have been built on Unreal Engine 5. Piranha Bytes or Embracer Group are yet to make any official statements regarding the studio’s closure, and according to the report, that is unlikely to change.

Founded in 1997 and acquired by THQ Nordic in 2019, Piranha Bytes has released several fan-favourite RPGs over the years, including the likes of Gothic, Risen, and Elex, as well as their respective sequels. A remake of the original Gothic developed by Alkimia Interactive is set to release sometime later this year.