Cult RPG Developer Piranha Bytes Reportedly Shuts Down

Studio's closure follows failed funding attempts; founders launch new indie venture Pithead Studio.

Piranha Bytes, known for Gothic, Risen, and Elex, reportedly closed at the end of June.
The studio faced financial difficulties and was unable to secure new funding or a buyer.
Embracer Group's restructuring has led to multiple studio closures, including Piranha Bytes.
Founders Björn and Jennifer Pankratz have started Pithead Studio to develop indie games.
Pithead Studio aims to create immersive and story-driven action adventure games.