Styx: Blades of Greed publisher Nacon files for insolvency

French AA publisher and developer Nacon has filed for insolvency.

As IGN reports, Nacon announced last week that its majority shareholder, Bigben Interactive, was unable to make a €43 million loan repayment. This was due to the “unexpected refusal of its banking pool to respond to the drawdown notice.”

Bigben Interactive holds 56.72% of Nacon’s share capital and 65.79% of its voting rights.

Nacon said its available assets are insufficient to pay its current debts, necessitating action to ensure it can continue operating.

The AA publisher is now considering legal procedures – overseen by the court – to help reorganise its debt and stabilise the company. A court hearing is expected in early March, at which it will rule on the request to open judicial reorganisation proceedings.

“The aim of this procedure is to assess all possible solutions to ensure the sustainability of the Company’s activity under the best possible conditions, protect employees, and preserve jobs, while renegotiating with its creditors in a calm and constructive framework,” Nacon said.

“This procedure will enable the Company to continue its business, renegotiate its debts, and develop a credible and effective continuation plan.”

The Bigben Group consolidated into a single entity, Nacon SA, in 2020. This brought together its gaming accessories brand, Nacon, and its publishing business, Bigben Interactive.

In December 2025, Nacon was ordered to pay €7 million in damages to Nintendo for infringing a European patent relating to Nintendo’s Wii controller. Nacon has appealed the judgment.

Last May, Nacon entered a six-year partnership with the World Rally Championship game franchise. From 2027 through to 2032, it would develop new WRC games on PC and console as part of a “complete reboot” of the series.