French video game publisher Nacon has filed for insolvency after failing to meet its debt obligations. The company aims to use the procedure to continue operations and renegotiate with creditors while protecting jobs. This follows the recent release of titles like Styx: Blades of Greed and Hell is Us.
Nacon, a French video game publisher, announced on February 25, 2026, that it does not have sufficient assets to meet its due liabilities, leading it to file for insolvency with the court. The filing comes after its majority shareholder, Bigben Interactive, failed to make a partial repayment of a bond loan, attributed to an 'unexpected and late refusal by its banking pool.' Last week, Nacon had indicated that its situation required rapid financial restructuring with creditors to ensure operational continuity.
The publisher stated that the insolvency procedure will enable it to 'continue its business, renegotiate its debts, and develop a credible and effective continuation plan.' It emphasized assessing all possible solutions to sustain the company's activity under the best conditions, protect employees, and preserve jobs within a 'calm and constructive framework.' The suspension of Nacon's share price, first announced on February 20, remains in effect.
Nacon recently released Styx: Blades of Greed, which received a four-star review from Eurogamer's Jim Sterling, who described it as 'easily the best stealth game in years,' though not as refined as a 'fine piece of quartz.' Last year, it published Hell is Us, a Soulslike game following an AWOL military operative searching for his family in a war-torn country infested with supernatural beings. The title eschewed clear objectives and quest markers, earning fair praise but limited wider attention. Other projects include the troubled RPG sequel Greedfall 2, slated for March, and Terminator: Survivors, which was delayed indefinitely and dropped plans for Early Access and multiplayer co-op. Nacon also handled publishing for RoboCop: Rogue City - Unfinished Business. The company plans to host its next Nacon Connect showcase on March 4.