On 10 August 2015, Wim Wouters, producer at GriN Gamestudio, published an announcement on the studio's website, in which he stated that the studio has closed down and requested bankruptcy, cancelling the development on the game's sequel Woolfe Volume 2.

He claims that poor sales and bad reviews put GriN Gamestudio into a massive debt that they could not pay back, as well as leaving them with the inability to provide the backer rewards promised to people who helped fund the game on Kickstarter.

[1] Following the shut-down, the Woolfe IP was acquired by Rebellion Developments on 21 October 2015, who was willing to deliver the Kickstarter backer rewards.

[2] The game was partially financed by the Vlaams Audiovisueel Fonds (Flanders Audiovisual Funds), which supplied 60,000 €, and the Participatiemaatschappij Vlaanderen Cultuurinvest (PMV Culture Investment).

[3] The game initially launched on 17 March 2015 for Microsoft Windows through Steam, with the PlayStation 4 and Xbox One version still in development.