I worked there for five years. A lot of good, talented, passionate people there who had their ideas stepped on by Ubisoft corporate at every step of the way. The studio regularly received recognition from corporate, was trusted in taking over trainwreck projects from other studios, and with partnering with Ubisoft's flagship studios on their mobile games.
The only reasons to shutter the studio are A) corporate ruined every original project they tried to push forward, and B) they unionized.