Black Friday is a common name for the date that NCsoft announced the sunset process for City of Heroes and the closure of Paragon Studios. The announcement came on Friday, August 31, 2012, the first day of the long Labor Day weekend (US) and PAX Prime. It came as such a surprise to some of the Paragon Studios staff that Zwillinger had even posted a teaser image for Issue 24 to their Facebook page early that morning.
Only two employees were retained through the sunset period (Zwillinger, who left a few weeks later, and Hit Streak). Paragon Studios employees let go were required to clean out their cubes and vacate the premises that day.
The name is a reference to Black Tuesday, the famous Wall Street crash of 1929.