Nacon Subsidiaries Enter Insolvency Proceedings

Four subsidiaries of Nacon, including Spiders, Kylotonn, Cyanide, and Nacon Tech, have begun insolvency proceedings. According to reports by Game Developer, these Paris-based studios have started reorganisation proceedings at the Lille Métropole Commercial Court. The studios are known for their work on notable franchises: Spiders with Gredfall, Kylotonn with World Rally Championship, and Cyanide with Styx and Blood Bowl. This development follows Nacon's own court-supervised reorganisation, aimed at addressing debt and restructuring the company. The move comes after Nacon's majority shareholder, Bigben Interactive, was unable to repay a substantial loan of €43 million, leading to the French publisher's insolvency filing. As explained by Nacon, the judicial reorganisation proceedings involve freezing liabilities for up to 18 months, during which the company can propose a plan to restructure its debt and work towards business recovery. Nacon currently operates 25 subsidiaries, among them 16 development studios.