Nacon, the publisher behind "Styx: Blades of Greed," has filed for insolvency

Nacon, a French publisher and developer known for mid-range games, has initiated insolvency proceedings.

According to a report by IGN, the situation arose after its principal owner, Bigben Interactive, could not fulfill a €43 million loan commitment. This resulted from an "unexpected refusal of its banking pool to respond to the drawdown notice" for the funds.

Bigben Interactive holds 56.72% of Nacon's shares and 65.79% of its voting rights. Nacon's current financial resources cannot cover its outstanding obligations, prompting it to seek measures to maintain its operations.

The company is exploring court-sanctioned procedures to reorganize its financial obligations and stabilize the business. A court date in early March will assess the request to initiate proceedings for judicial reorganization.

Nacon stated the goal is to explore solutions that preserve the company’s operations, secure employee positions, and manage discussions with creditors. The proposed process includes negotiating debt while formulating a sustainable future plan for the company.

In 2020, the Bigben Group was consolidated into Nacon SA, integrating gaming accessories and publishing under one umbrella.

Back in December 2025, a court mandated Nacon to pay €7 million in damages to Nintendo for patent violations related to the Wii controller, a decision that Nacon has since appealed.

Last year, Nacon secured a six-year agreement with the World Rally Championship game series. This partnership, spanning from 2027 to 2032, involves developing new WRC titles for both PC and consoles as part of a comprehensive reinvention of the franchise.