JoWooD combat continues as number of potential investors shrink

The future of JoWooD Entertainment AG (JoWooD) is uncertain as a previously possible investor made clear it no longer had an interest in pouring their money into the bankrupt computer games developer.Insolvency organiser Helmut Platzgummer said today (Fri) that one company, which was initially keen on investing in the firm, now explained it no longer had such plans. Platzgummer – who did not name the firm – added that two other potential investors were still in the running.JoWooD, which is based in Vienna, was established in 1995. The software company opted for controlled bankruptcy in January. It has liabilities of around 20 million Euros, according to business newspapers.Platzgummer said a firm interested in participating in JoWooD would need to invest “around five million Euros”. He claimed the computer games maker – which has around 90 staff – would continue to do business until a solution is found.JoWooD’s best known games are “Industriegigant” (Industry Giant) and “Die Völker” (The Nations). The firm recently presented adventure game “ArcaniA – Gothic 4” and fantasy game “The Book of Unwritten Tales”.The company sustained operative losses of more than 14 million Euros in the first nine months of 2010 after 1.65 million Euros in the same time span of the year before. Its turnover slid from 18.63 million Euros to 8.16 million Euros at the same time.JoWood entered the Vienna Stock Exchange (WBAG) in 2000. One share was valued at 0.49 Euros at 11am today.