Nacon said four subsidiaries, including studios Spiders, Kylotonn and Cyanide, filed for insolvency

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 said four of its subsidiaries filed for insolvency on Mar 23, 2026, and asked for judicial reorganisation proceedings to be opened in their favour. The four were the video game development studios Spiders, Kylotonn and Cyanide, and the motion capture company Nacon Tech.1^,2^,3

Judicial reorganisation proceedings, redressement judiciaire in French, are, the release explains, collective proceedings under French law that freeze the debts arising before the court's opening judgment for an observation period that may last up to 18 months. During that period the debtor may propose a continuation plan to restructure its debt and secure the recovery of its business.4^,5

Nacon's own proceedings had begun earlier: on Mar 2, 2026, at the company's request, the Lille Métropole Commercial Court ordered them opened. The company said the aim was to find solutions that sustain its business, renegotiate its debt with its creditors and protect its employees. It said it had begun work, with its advisers and the judicial administrators, on the outline of a restructuring plan for the group. The company said further press releases would be issued as its situation and the proceedings evolved.6^,7^,8^,9

Nacon described itself as bringing together 16 development studios. In the year to Mar 31, 2025, its revenue was €167.95 million, against €167.71 million the year before, while its operating income fell to €1.11 million from €20.88 million. Its net income was a loss of €1.34 million, against a profit of €17.53 million the year before.10^,11^,12^,13^,14^,15^,16

We hold the English text of this one release, one page long and without its pictures or layout, and no presentation, appendix or web page that it refers to. The text we hold gives no amount for the debts at stake.17