Nacon—the French double-A publisher and developer behind Styx, GreedFall, Hell is Us and more—has filed for insolvency just days after the release of Styx: Blades of Greed, and weeks before the release of GreedFall 2.
Nacon comprises 16 development studios, including Kylotonn (WRC), Cyanide (Tour de France), Spiders (GreedFall), and a dedicated publishing wing. The company's current financial woes have arisen because Nacon's majority shareholder, Bigben Interactive, has defaulted on a loan repayment. Nacon is now petitioning the French courts to allow it to restructure its debt.
Codemasters and EA Sports have overseen the series for two years.
"The aim of this procedure is to assess all possible solutions to ensure the sustainability of the Company's activity under the best possible conditions, protect employees, and preserve jobs, while renegotiating with its creditors in a calm and constructive framework," the appeal reads. "This procedure will enable the Company to continue its business, renegotiate its debts, and develop a credible and effective continuation plan."
Bigben Interactive owns 56.72 per cent of the share capital in Nacon, and possesses 65.79 per cent of the voting rights. The company was unable to make a loan repayment of €43 million ($50.7 million) "due to...
