With the announcement of next week’s Nacon Connect, you may be forgiven for thinking all is well with the French publisher.
That’s unfortunately not the case.
In a letter publisher today, the firm has filed for insolvency. To cut to the chase, its majority shareholder Bigben Interactive recently defaulted on its debts, plunging the firm into financial ruin.
Here’s what it writes:
“In a video game sector marked by long investment cycles and significant transformations, on 20th February 2026, Nacon announced that the situation of its majority shareholder, Bigben Interactive, which, following an unexpected and late refusal by its banking pool, was unable to make the partial repayment of its bond loan to its bondholders, was significantly affecting its own operations.”
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Nacon is planning a financial restructuring which it hopes will enable it to continue operations. But the catch here is that it openly admits its “available assets do not allow it to meet its due liabilities”. In layman’s terms, it’s f*cked.
The French publisher owns a wide range of studios, including most notably Spiders (GreedFall), Cyanide (Styx), and Kylotonn (Test Drive Unlimited Solar Crown).
It’s a reminder that AA game development is just as challenged as AAA, with the market increasingly squeezed by the sheer abundance of content available.