Nacon filed for insolvency and asked a French court to open reorganisation proceedings

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Nacon, the games publisher listed on Euronext Paris, said on Feb 25, 2026 that it was filing for insolvency and had applied to open judicial reorganisation proceedings, called redressement judiciaire in French, before the Commercial Court of Lille Métropole. The company said the assets it had available did not cover the liabilities that had come due, and that it would file the insolvency declaration, called a déclaration de cessation des paiements in French, with the court that day. Nacon described itself as a subsidiary of the Bigben Group. The AMF, France's market regulator, lists the release as inside information, the category for news that may affect a listed company's share price.1^,2^,3^,4^,5

On Feb 20, Nacon had said that the situation of its majority shareholder, Bigben Interactive, which had been unable to make a partial repayment of its bond loan to its bondholders after what Nacon called an unexpected and late refusal by its banking pool, was significantly affecting Nacon's own operations. On that occasion, Nacon also said that its liquidity situation required a rapid financial restructuring with its creditors, and that it was considering procedures to ease the restructuring of its debt under the court's supervision. The employee representative organisations were told of that decision on Feb 24, the company said.6^,7^,8

The company described judicial reorganisation as a collective procedure that freezes existing liabilities when it opens, for an observation period that can last up to 18 months, and that lets the debtor present a plan to continue its activities by restructuring its debt. It said the court, at a hearing expected in early March, would rule on the request, and that the suspension of trading in its shares, announced on Feb 20, remained in effect pending the court's decision. Nacon said it would keep the market informed as the situation and the proceedings developed.9^,10^,11^,12^,13

In the description of itself at the foot of the release, Nacon said it brought together 16 development studios, AA video game publishing and the design and distribution of premium gaming peripherals, with 25 subsidiaries and a distribution network in 100 countries. In its annual figures for the year to Mar 31, 2025, Nacon reported revenue of €167.95 million, against €167.71 million the year before. Operating income was €1.11 million, against €20.88 million. It reported a net loss of €1.34 million, against a net income of €17.53 million.14^,15^,16^,17^,18^,19^,20^,21

The text we hold is the company's own release, 3,914 characters on 2 pages in English, as its distributor filed it with the AMF. We hold none of the documents the release refers to, nor any earlier or later version of it, so this article tells the company's account as of Feb 25 and not the court's ruling.22^,1