Piranha Bytes has closed down, sources from the CD-Action portal claim. According to their information, the studio shut its doors at the end of June.

As CD-Action reports, the developers were unable to secure €3 million in funding for their next game. The funds allocated by the studio's parent company, Embracer Group, were only sufficient until June.

Amidst the troubles at Piranha Bytes, many employees reportedly resigned before the official closure. Among them was the head of the studio, Björn Pankratz. It is reported that he, along with his wife Jennifer, has already launched a new company called Pithead Studio, which will focus on developing "dark action games with deep stories, horror elements, and RPG features."

Back in January, there were rumors that Piranha Bytes had ceased operations and existed only on paper. At that time, the studio's management confirmed that it was in a difficult situation but asked the public not to write off Piranha Bytes and to believe in the best.