In an update on its ongoing receivership proceedings, Nacon has announced that four of its subsidiaries have filed for insolvency and requested the opening of court-ordered reorganization proceedings.
On March 2, at the request of the video game publisher (a subsidiary of Bigben Interactive), the Lille Métropole Commercial Court ordered the commencement of reorganization proceedings (redressement judiciaire) for the company.
The objective is to allow Nacon to identify, under optimal conditions, solutions to ensure the long-term viability of its business, renegotiate its debt with creditors, and protect its employees within a stabilized environment.
With the assistance of its advisors and court-appointed administrators (SELARL FHBX and SELARL BMA), Nacon has begun working on the framework of a restructuring plan for the group formed by the company and its subsidiaries.
In this context, its subsidiaries Spiders, Kylotonn, Cyanide, and Nacon Tech have filed declarations of insolvency with the Lille Métropole Commercial Court and requested the opening of reorganization proceedings for their benefit.
NACON specializes in the development and publishing of so-called AA video game software (games with sales of between 200,000 and 3 million copies) in both physical and digital form. The group provides action/adventure games (Warhammer, The Sinking City, Werewolf, Paranoia, etc.), racing games (TT Isle of Man, WRC, V-Rally, FIA Truck Racing Championship, Overpass, etc.), sports games (Rugby20, Tennis World Tour, Tour de France, etc.) and simulation games (Farmers Dynasty, Bee Simulator, Pro Fishing Simulator, etc.).
In addition, NACON develops a business designing and manufacturing video game accessories for PCs and consoles (keyboards, mice, mats, controllers, headsets, microphones, steering wheels, game seats, etc.).
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