Crytek secures funding following financial troubles

Crytek secures funding following financial troubles
Erik Johnson

By Erik Johnson

July 28th 2014 at 12:43PM

Developer insists future is secure as it transitions to an online publisher

Crytek has released a statement acknowledging the recent reports surrounding the company's financial issues.

A Crytek representative provided Games Industry with a statement addressing the many rumours and reports surrounding the firm's recent financial woes – including allegedly missing payroll and considering bankruptcy.

The company admits that it had been enduring a “transitional phase” from developer to online publisher, but has since secured adequate capitol for the long term.

Crytek's note also stated that it wouldn't comment further about developments and progress in regards to the company. Here's the statement in full:

In recent weeks, there have been repeated reports and rumors relating to financial problems at Crytek. Having already given an update to staff across all our studios, we are now in a position to share more details with members of the press and public.

Internally, we have acknowledged that the flow of information to employees has not been as good as it should have, however we hope you understand that communicating details of our plans publicly has not always been possible.

Our sister-site MCV has the full story.