Nacon's collapse claims another studio as Big Bad Wolf reportedly shuts down
Big Bad Wolf, the Bordeaux studio behind The Council, Vampire: The Masquerade – Swansong, and the recently released Cthulhu: The Cosmic Abyss, is reportedly closing as part of Nacon's ongoing insolvency collapse. French outlet Origami broke the news on Bluesky — the same source that accurately called the shutdown of Spiders roughly a day before it was officially confirmed. No formal statement has come from Nacon, Big Bad Wolf, or parent company Cyanide.
The pattern
Nacon, the French publisher behind titles like Styx and RoboCop: Rogue City, filed for insolvency in late February 2026 after parent company Bigben Interactive failed to refinance a bond. The financial collapse triggered a cascade through its studio network. Spiders — the studio behind GreedFall and Steelrising — was the first confirmed casualty, liquidated in April 2026 after no buyer could be found for it.
Big Bad Wolf is a branch of Cyanide Studio, which is itself under receivership as a Nacon subsidiary. Cthulhu: The Cosmic Abyss launched just three weeks before the reported closure, scoring a 67 on Metacritic and selling fewer than 5,000 copies, per French outlet New Game Plus. The timing is brutal: the studio shipped a game, then was reportedly shut before it had any chance to build an audience.
What this means for players
For most players in the US and UK, the practical impact is limited — Big Bad Wolf's catalog occupies a niche corner of the AA market with a modest install base. The bigger concern is ongoing support: patches, DLC, and future updates for Cthulhu, Swansong, and The Council would almost certainly end with the studio. Whether any of those titles face delisting from storefronts remains unclear.
French games union STJV has been vocal throughout the Nacon crisis, accusing management of mismanagement bordering on sabotage. The union claims Spiders received no royalties from GreedFall — a game that sold well — since its launch in 2019, per STJV.
One studio in the Nacon network may be temporarily safe: Cyanide's own team recently announced Dracula: The Disciple, making an immediate shutdown less likely while that project is in active development. WCCFtech notes the Origami report but flags there is still no official confirmation. More closures are widely expected as the receivership process continues.
