European publisher and Sacred series developer Ascaron Entertainment has filed for bankruptcy protection and is now in "negotiations with several well-known interested parties to discuss a positive takeover," the company has revealed.

"After four years developing Sacred 2: Fallen Angel, an extended development delay made it necessary for Ascaron to go into administration," it explained, noting that its development team is currently working on a Sacred 2 PC expansion and Sacred 3. Read more »

The release of Ascaron Entertainment's multiplayer-oriented action-RPG Sacred 2: Fallen Angel has been delayed until September 2008. In development for both PC and Xbox 360, the game was previously set to hit stores in the first quarter of 2008.

"An extension of the development process was necessary in order to ensure that we realize all the development plans and ship both PC and Xbox 360 versions with the best possible quality and stability," Ascaron wrote on the game's official site. Read more »