The reason behind why this 30-year-old studio was closed seems to be quite clear now.

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The reboot of the Saints Row franchise had weak sales performance, selling under 2 million copies. Saints Row 4 was successful, selling over one million copies in its first week. Volition faced challenges and eventually closed its doors after a decline in Embracer's stock price.

Saints Row Reboot Hits Franchise Low, Selling Under 2M Copies