When they announced their closure, Telltale remarked that a small group of staff was staying onboard to "fulfill the company's obligations to its board and partners." This is primarily with Netflix, who the company had previously confirmed the existence of a Minecraft: Story Mode Netflix adaption. They're also working on a Stranger Things Telltale game.
We are saddened by news about Telltale Games. They developed many great games in the past and left an indelible mark in the industry. Minecraft: Story Mode is still moving forward as planned. We are in the process of evaluating other options for bringing the Stranger Things universe to life in an interactive medium. - Netflix
Shortly after this, gameplay and concept art for the Stranger Things game was released to the public. In it, we see the familiar cast of the Netflix show recreated in the familiar Telltale style. WEBM videos of the gameplay can be found below, along with the concept art. Most of them are of Will and his house, but we also see the Demogorgon and the upside down.
It's unclear if the Telltale skeleton crew will finish the Stranger Things game. It sounds like Netflix may find a new studio to pick up where they left off. Multiple partners have reached out to Telltale Games to help with completing The Walking Dead series. All in all, Wolf Among Us 2 is the only one that sounds officially canceled.
Will at Home
It's a Gorgon
Demogorgon? More like DemoMOREgon, amirite?