Spiders Officially Confirms Liquidation As Nacon Crisis Deepens And More Studio Closures Could Follow

The collapse of Nacon’s financially troubled studio network has now claimed its first confirmed casualty. Spiders, the studio behind Greedfall and Steelrising, has publicly confirmed that it is being liquidated, ending weeks of uncertainty after earlier insolvency reports and failed sale claims surrounding the French developer. In a statement posted on X, the studio said, “Spiders is being liquidated,” and added that “the company as a whole no longer exists” and would cease functions immediately.

That statement is the clearest confirmation yet that the studio is gone. Spiders also said the planned DLC for Greedfall: The Dying World will still be released through Nacon, but after that, its involvement is over. The studio apologized for its recent silence and directed players with future game issues to contact Nacon directly because it will no longer be able to respond.

Hello everyone,

First off, we apologise for the silence over the past month - it's been a while.

We're going to cut straight to the chase so you're not left wondering: After a long period without clear answers, we have received confirmation that Spiders is being liquidated.…

— Spiders (@spidersgames) April 29, 2026

The closure had been feared for weeks. In March 2026, Game Developer reported that Nacon subsidiaries Spiders, Kylotonn, and Cyanide had filed for insolvency after Nacon itself entered insolvency related proceedings earlier in the year. A separate Nacon update reported by Yahoo Finance said four subsidiaries had filed, including Spiders and Nacon Tech.

The immediate trigger behind Spiders’ liquidation appears to be the failure to find a buyer. French outlet Origami first reported that Nacon had been unable to secure a purchaser for the studio, and that liquidation was effectively imminent. PC Gamer later summarized the same sequence, reporting that attempts to sell Spiders and other subsidiaries had failed, leading to closure.

That makes Spiders the first officially confirmed shutdown in the current Nacon crisis, but it may not be the last. At the moment, the other Nacon entities publicly tied to insolvency filings are Cyanide, Kylotonn, and Nacon Tech. Their final status has not yet been officially confirmed as closure, but multiple reports have warned that more shutdowns could follow if buyers are not found. That remains reported risk, not a confirmed outcome.

Nacon subsidiaries mentioned in the current insolvency story:

• 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 and now officially shut down

• Nacon Tech, filed for insolvency

What makes this especially grim is the timing. Spiders had only recently continued patching Greedfall: The Dying World, and the studio’s final statement confirms that while some previously planned content will still reach players via Nacon, the team itself is gone. For fans of mid budget narrative RPGs, this is a significant loss. Spiders had built a recognizable identity over nearly 2 decades by delivering ambitious, rough edged RPGs that often punched above their budget.

For Nacon, the bigger concern is what this closure signals about the rest of the group. The company has tried to project continuity, but with one studio now officially liquidated and others still under insolvency pressure, the situation no longer looks like a contained restructuring. It looks like an ongoing survival test.

Which Nacon studio are you most worried about next, and do you think any of the remaining insolvent teams can still be saved?