The French gaming landscape faced a significant shakeup today as Nacon officially filed for insolvency before a commercial court, citing a breakdown in the financial stability of its majority shareholder. The move comes after Bigben Interactive, which holds a controlling stake in the publisher, failed to meet its obligations regarding partial bond loan payments. In response to the mounting fiscal pressure, Nacon has requested that the court initiate judicial reorganization proceedings immediately to stabilize its operations and protect its various development assets.
While the filing marks a precarious moment for the company, it represents the latest chapter in a history that dates back to 1981. Though Nacon spent its early decades focused on accessories, its pivot to software publishing in 2002 transformed it into a mid-tier powerhouse. The publisher currently oversees a substantial portfolio of internal studios, most notably Cyanide, the team behind the Styx series, and Spiders, the developer responsible for the cult-hit RPG GreedFall. The uncertainty surrounding the parent company now leaves the future of these studios and their respective intellectual properties in a state of flux as the court determines the next steps for reorganization.
The timing of this insolvency is particularly striking given Nacon’s recent aggressive push into high-profile licensed properties and ambitious original titles. The company recently saw success with the 2023 release of RoboCop: Rogue City, developed in partnership with Polish studio Teyon. This partnership was slated to continue through 2025 with the standalone expansion, RoboCop: Rogue City – Unfinished Business. These projects, alongside the upcoming 2025 adventure title Hell Is Us, represent a significant portion of the publisher’s projected revenue for the coming fiscal years.
Industry analysts are now closely watching how the judicial reorganization will impact these pending releases and the long-term employment of the developers under the Nacon umbrella. For a publisher that has spent the last several years expanding its footprint through acquisitions and “AA” titles, this filing serves as a sobering reminder of how quickly shifting debt obligations at the corporate level can threaten creative output. For now, the focus remains on the commercial court’s decision, which will dictate whether Nacon can successfully restructure or if a more drastic sale of its studios is on the horizon.
