The situation around Nacon’s financial troubles has taken a serious turn. Spiders, the studio behind Greedfall and Steelrising, has officially shut down after confirming it is being liquidated.
The studio itself shared the news, saying the company will cease operations immediately. That means Spiders no longer exists as an active development team, ending years of work on RPG projects that had built a dedicated fanbase.
Spiders is the first major shutdown, but more studios under Nacon could follow
Spiders’ closure was not unexpected. The studio had already filed for insolvency, and reports suggested Nacon was trying to find a buyer. That effort appears to have failed, leading directly to liquidation.
There is one final piece of unfinished work. Nacon will still release the planned DLC for Greedfall: The Dying World, but after that, the studio’s involvement ends completely.
The bigger concern is what comes next. Spiders is not the only studio affected by Nacon’s financial problems. Several other teams have also filed for insolvency, and they could face similar outcomes if no buyers are found.
| Studio | Current status |
|---|---|
| Spiders | Shut down and liquidated |
| Kylotonn | Filed for insolvency |
| Cyanide | Filed for insolvency |
| Nacon Tech | Filed for insolvency |
| Other Nacon studios | Still operating, but uncertain future |
This creates a worrying pattern. When one studio is liquidated after insolvency, it often means the parent company is struggling to stabilize its broader business.
Nacon’s problems could trigger a chain reaction across its studios
The root of the issue goes beyond a single developer. Nacon’s troubles reportedly began after its majority investor, Bigben Interactive, lost a refinancing deal. That triggered insolvency filings and forced the company to look for ways to recover financially.
Studio sales were one possible solution, but without buyers, liquidation becomes the fallback option. That is what happened with Spiders, and it may not be the last case.
If more closures follow, it could affect multiple ongoing projects, including games from studios like Kylotonn and Cyanide. It would also mean more layoffs across the industry at a time when job security is already a major concern for developers.
This is another reminder of how fragile mid-sized game studios can be
Spiders was not a small indie team, but it was not a massive AAA studio either. It sat in the middle, creating ambitious RPGs with limited budgets. That position is becoming harder to maintain in today’s industry.
Rising development costs, publisher pressure, and financial instability can quickly push studios into difficult situations. Once insolvency happens, the outcome often depends on whether someone is willing to buy the studio. If not, shutdown becomes the final step.
For players, the impact is also clear. Greedfall had built a following, and many fans expected the series to continue growing. With Spiders gone, that future is now uncertain.
The most important takeaway is that Spiders’ closure is likely not the end of this story. It may be the first visible sign of a larger restructuring inside Nacon, and the fate of its remaining studios will depend on whether the company can stabilize or find buyers in time.
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