US EditionNacon Files for Insolvency Days Before Its Big Showcase and Just Over 2 Weeks Before GreedFall 2 Releases Its Full 1.0 Version
Nacon seeks court approval to restructure debt after majority shareholder missed a €43 million loan repayment, aiming to protect jobs and ensure company sustainability.
- This week, AA publisher and developer Nacon filed for insolvency and asked a French court to permit a debt-restructuring procedure days before its Nacon Connect showcase on March 4 and GreedFall 2's full 1.0 release on March 12.
- After BBI missed a 43 million repayment and its banking pool refused a drawdown, Nacon said it was forced into insolvency; BBI holds 56.72% of share capital and 65.79% of voting rights.
- Nacon, applicant for restructuring, said it hopes the court will approve a procedure to renegotiate with creditors, protect employees, and freeze liabilities for up to 18 months while presenting a continuation plan.
- Trading was suspended and media—including IGN—have asked Nacon if it can continue releasing and supporting titles, as it released Styx: Blades of Greed last week and updated Dragonkin: The Banished this morning.
- A court hearing in early March will decide whether to approve Nacon's restructuring, with titles like Cthulhu: The Cosmic Abyss and Edge of Memories expected to be showcased.
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42 Articles
Gaming accessory maker and publisher Nacon files for insolvency
French AA gaming developer and accessory manufacturer Nacon has filed for insolvency after its majority shareholder Bigben failed to make a loan repayment, the company said in a press release. "To date, the company reports available assets do not allow it to meet its liabilities," Nacon wrote. The objective with insolvency, it said, was to allow "continued operation, protect employees and maintain jobs while renegotiating with its creditors." N…
Its parent company, BigBen Interactive, is unable to repay a loan term of approximately €43 million.
In cessation of payment, the video game publisher Nacon requested his placement in court. Based in the North, the group was founded in 2019 and brings together 16 development studios.
Nacon Files for Insolvency Days Before Its Big Showcase and Just Over 2 Weeks Before GreedFall 2 Releases Its Full 1.0 Version
AA publisher and developer Nacon has filed for insolvency, raising questions over the future of games such as GreedFall 2, Hell is Us, RoboCop, and Test Drive Unlimited.
Facing serious difficulties and unable to repay a debt of 43 million euros, the French software publisher Nacon has announced that it has filed for bankruptcy protection. The company has requested to be placed under court-ordered administration.
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