Germany-based developer Ascaron Entertainment has gone into administration.

“On Tuesday 14th April 2009, Ascaron Entertainment GmbH, Germany, went into administration at the regional court in Bielefeld, Germany,” the developer said in a statement on its website.

“Due to the protection offered by German administration rights, Ascaron intends to use this as an opportunity to secure the future of the company.”

Ascaron said that an “extended development delay” to Sacred 2: Fallen Angel was at the root of its troubles.

The PC version of the RPG had sold over 400,000 copies worldwide by the end of 2008, while the PS3 and 360 versions are due for release at the end of next month.

“The server and services of Sacred 2 multiplayer and the Securom game activation are unaffected and will continue as usual,” said the company, additionally noting that it is “currently working on a Sacred 2 PC expansion and on the development of the sequel, Sacred 3”.

“Ascaron has already begun negotiations with several well-known interested parties to discuss a positive takeover,” the developer added.