NEARLY-BANKRUPT!!, CRYTEK Forced to sell off Homefront!

Over the last couple of weeks Crytek repeatedly denied reports/rumors that its UK branch has been deserted by a large number of employees after the company was unable to pay salaries for several weeks in a row.

Unfortunately, now it seems that the Crytek's troubles run deeper than that.

Crytek is vehemently denying its financial troubles, but several ex-employees (from both UK and US studios) spoke to the media and confirmed that they've gone weeks without payment and that their bonuses have been withheld. They also revealed that the company was forced to stop development of Ryse 2 and to cancel an original IP project of its own in the last few months.

Today, Crytek announced officially that it has sold off "Homefront brand and all coherent assets" to Koch Media and its publishing label Deep Silver. Interestingly enough, the whole Homefront team from Crytek's Nottingham studio will transfer to Koch Media and continue working on Homefront: The Revolution as part of the agreement. Needless to say, Crytek wouldn't ever sell such a strong IP if it wasn't having financial troubles.

Furthermore, Crytek also announced that it has moved development of its F2P shooter Hunt: Horrors of the Guilded Age to Germany. According to ex-employees, this decision was forced because most of the US development team had quit earlier.

After the successful launch of Crysis 3 in February 2013, Crytek released its Free2Play online first person shooter Warface on Windows PC and Ryse: Son of Rome on Xbox One. It is now clear that both titles failed to generate enough revenues to match the company's expenses.