Yesterday, we reported on a claim that Spiders, the studio behind the Greedfall series and Steelrising, would be shutting down "soon" after it filed for insolvency last month. The shutdown was allegedly a result of its parent company Nacon being unable to find a buyer for the studio after the insolvency filing. Today, Spiders finally spoke out via its official X (formerly Twitter) account, and while it didn't confirm anything about the failed sale, it did confirm that yes, "Spiders is being liquidated."
The studio's statement began with an apology for the team's silence over the last couple of months, and that they do not wish to leave anyone wondering about the studio's future any longer. "After a long period without clear answers, we have received confirmation that Spiders is being liquidated," the statement reads. "What does it mean? This means the company as a whole no longer exists. We'll cease our functions immediately."
Spiders does confirm that Nacon will still deliver planned DLC content the studio had for Greedfall: The Dying World, but once that's out, that's the end. "The planned DLC will release via Nacon, and then - well, that's it."
"We're sorry that it's come to this and would like to thank each and every one of you for your support over the years. If you have any questions or run into issues with your games, please contact Nacon directly as we'll no longer be able to reply."
It's an unfortunate, but not entirely surprising end for the studio. After Nacon's financial troubles began earlier this year, following its majority investor, Bigben Interactive, losing its refinancing deal at the last minute and Nacon filed for insolvency, shut downs like this were exactly what everyone feared would happen.
Now that Spiders is gone, it feels like only a matter of time before the rest of the studios that filed for insolvency along with it, which include Test Drive Unlimited developers Kylotonn, Styx: Blades of Greed developer Cyanide, and motion capture studio Nacon Tech, share the same fate.
While Spiders' shutting down is enough of a sign to worry for the rest of the studios that've filed for insolvency, a source told Wccftech to expect more shutdowns if Nacon can't find a buyer for its insolvent studios. As a reminder, here's a list of Nacon's subsidiaries and which of them have filed for insolvency so far.
- Nacon Studio Milan
- Big Ant Studios
- Daedalic Entertainment
- Cyanide - filed for insolvency
- Midgar Studio
- RaceWard Studio
- Neopica
- Ishtar Games
- Crea-ture Studios
- Eko Software
- Kylotonn - filed for insolvency
- Spiders - filed for insolvency, officially shut down
- Nacon Tech - filed for insolvency
About the author: David has been writing about videogames, technology, and culture since 2020, with a focus on reporting daily news across multiple publications, including GameDaily.Biz, GameSkinny, and PlayStation Universe before joining Wccftech in 2025. David started contributing as Canada/US reporter for Wccftech's gaming section in 2025. Besides being up-to-date on the industry's movements, he loves interviewing developers, reviewing games, and writing intricate essays about the symbolism and layered meanings to be found in rich narratives as he's done for publications like GamesIndustry.Biz, LostInCult, and others. Outside of games he loves movies, music, theatre, his hometown, and his family, though not necessarily in that order.
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