Earlier this year, French publisher Nacon announced that it has filed for insolvency, and things are unfortunately getting worse for the teams involved with the company.
While the publisher is undergoing a financial restructuring, the three largest studios under the Nacon umbrella have now also filed for insolvency and have been placed in receivership.
That's according to French journalist Gauthier Andres:
The studios affected are Cyanide (Styx), Spiders (GreedFall), and Kylotonn (Test Drive Unlimited: Solar Crown), as well as Cyanide subsidiary Big Bad Wolf (Cthulhu: The Cosmic Abyss).
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Receivership is a state in which a court-appointed "receiver" takes control of a company's assets to manage or sell them in order to fulfil overdue financial obligations.
According to Andres, this development affects a combined total of about 320 employees.
With the publisher and its studios in this state, things aren't looking good. Though it's not impossible for things to recover, it's a difficult position that may see some unfortunate consequences. We'll have to wait and see how this all shakes out.