Piranha Bytes has made some interesting games over the years, including cult classics like Gothic and Risen, as well as the more recent fantasy RPGs, Elex and Elex 2. Unfortunately, while the studio has improved with every release, its days are now numbered due to a lack of investment. 

Piranha Bytes apparently begun closing down operations in June, according to an employee speaking with CD-Action. The studio has not publicly announced a closure, or layoffs, but as spotted by Insider Gaming, the company did release a statement in January 2024 confirming that it was in a “difficult situation” financially.

Piranha Bytes has worked closely with Embracer Group but as the publisher is undergoing a mass cost-cutting initiative, it has chosen not to fund the studio's next project. In recent months, the studio has been trying to find a publishing partner for its next game but if this report is accurate, then those efforts were unsuccessful.

While we still don't have confirmation on what is happening with Piranha Bytes, two former employees of the studio have recently announced plans to form a new studio. This is something that happens from time to time at successful and struggling studios.

While Piranha Bytes might be shutting down, THQ Nordic, which is still under Embracer Group, is still planning a remake of Gothic, but it will be handled by another studio.

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KitGuru Says: I really liked Elex and Elex 2, so I was looking forward to seeing the Piranha team improve again with their next game. We'll keep an eye out for official updates over the next few weeks. 

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