- Nacon (OTC Pink: NACNF) has filed for insolvency and requested court‑supervised judicial reorganisation after declaring it can no longer meet its financial obligations.
- The crisis stems from Bigben Interactive’s inability to repay a major bond debt, which impacted Nacon’s liquidity and forced the company to seek restructuring
- A court hearing is expected in early March, trading of Nacon’s shares remains suspended, and uncertainty surrounds upcoming releases and its March 4 Nacon Connect event
- Nacon stock (OTC Pink: NACNF) last traded at $0.09
French video game publisher and accessory manufacturer Nacon (OTC Pink: NACNF) has filed for insolvency and requested the opening of judicial reorganisation proceedings.
The move follows mounting financial pressures linked to difficulties faced by its majority shareholder, Bigben Interactive.
According to Nacon, Bigben Interactive recently encountered a late and unexpected refusal from its banking partners, leaving it unable to make a scheduled partial repayment of a bond loan to its creditors. Nacon stated that this development, revealed on February 20, had a direct and significant impact on its own operating conditions.
At that time, the company warned that its liquidity position required “rapid” financial restructuring to ensure business continuity, and that it was evaluating legal mechanisms that would allow for a court‑supervised restructuring of its debts.
In today’s announcement, Nacon confirmed that its available assets are no longer sufficient to meet its due liabilities, prompting the formal insolvency filing. The company has asked the court to initiate judicial reorganisation proceedings aimed at stabilizing operations while working toward a structured recovery plan.
Nacon said the requested procedure is intended to “assess all possible solutions” to maintain business activity under the best conditions, safeguard employee interests, and preserve jobs. The proceedings would allow Nacon to continue operating while renegotiating its obligations and preparing a viable long‑term plan.
A court hearing on whether to approve the opening of the reorganisation process is expected in early March. Until the ruling is made, the company’s shares will remain suspended from trading, a measure first enacted on February 20.
The insolvency filing also follows reports that Bigben Interactive was struggling to service a €43 million debt obligation, with knock-on effects for Nacon and its subsidiaries. Nacon currently oversees 16 development studios as well as its publishing operations, all of which could be affected depending on the outcome of the reorganisation process.
Despite the financial uncertainty, Nacon has an upcoming Nacon Connect presentation scheduled for March 4, during which it has planned new game announcements and updates on titles such as Cthulhu: The Cosmic Abyss, The Mound: Omen of Cthulu, and Edge of Memories. The company has not yet indicated whether its financial situation will affect this event or the planned March 12 release of Greedfall 2: The Dying World.
Nacon develops and publishes video games, and also creates and sells gaming accessories including controllers, keyboards, and chairs. The company was established in October 2019 and is based in Fretin, France.
Nacon stock (OTC Pink: NACNF) last traded at $0.09 and back home in Pris, (EPA:NACON) closed at €0.26 and has lost more than 50 per cent since this time last year.
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