Four subsidiaries of Nacon have filed for insolvency

Subsidiaries of Nacon, including Spiders, Kylotonn, Cyanide, and Nacon Tech, have initiated insolvency proceedings.

According to Game Developer, these studios located in France have started restructuring processes at Lille Métropole Commercial Court.

Spiders is recognized for the Greedfall series, Kylotonn manages the World Rally Championship games, while Cyanide is behind the Styx and Blood Bowl series. These developers are all headquartered in Paris.

In a recent development, Nacon began court-supervised reorganization to manage its debt issues and realign operations.

The insolvency filing came after Bigben Interactive, Nacon's main shareholder, could not fulfill a loan payment of €43 million.

Nacon highlights that judicial reorganization under French law involves placing pre-existing debts on hold during an observation phase, potentially lasting up to 18 months. During this time, the company can present a continuation plan aimed at business recovery.

Currently, Nacon operates 25 subsidiary companies, encompassing 16 development studios.