French game studio Spiders confirms liquidation, will shut down and cease operations

It's an end of an era: The video games industry's financial onslaught has led to the dismantling of another team, this time Spiders, a studio responsible for multiple mid-range AA games.

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After nearly two decades, Spiders Studios is shutting down. The French game developer, a subsidiary of entertainment company Nacon, is being liquidated due to the financial troubles of its parent. Nacon attempted to find a new buyer for Spiders last month, but the deadline came and went without a prospective offer.

Now the studio has shared the bad news on Twitter, saying that Spiders is effectively no more. The Paris-based team that worked on games like Bound By Flame, Steelrising, and two Greedfall games--all set in the proprietary Silk engine--has closed shop.

"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.

"What does it mean? This means the company as a whole no longer exists. We'll cease our functions immediately. The planned DLC will release via Nacon, and then--well, that's it."

The interactive entertainment industry is going through a major contraction point, and companies are quick to lay off teams and cut projects to protect profits. This has led to the cancellation of dozens of projects and the displacement of thousands of creatives in a market that rapidly evolves and innovates.

Whole teams have been wiped out, their games scrapped, and entire franchises put on ice as publishers seek to navigate a new, leaner and risk-averse market.