NACON subsidiaries Spiders (GreedFall dev), Kylotonn, and Cyanide have filed for insolvency.
The French publisher and developer, Nacon, had filed for emergency insolvency earlier this year after its parent company unveiled critical financial difficulties. Now, the subsidiaries, as well as developers of some popular games, seem to be in the same situation as NACON.
Devs of Greedfall, Styx, and More Have Filed for Insolvency
A new report from Game Developer reveals that NACON’s studios, Spiders, Kylotonn, and Cyanide, have filed for insolvency and are moving forward with judicial reorganisation. This process will freeze their liabilities while the companies are under observation, which may last up to 18 months. During this period, the studios will have the opportunity to propose a plan to restructure their debts and work towards the business’s recovery.
Spiders and Cyanide are prominent names in the gaming industry, known for titles like the GreedFall series and Styx. Kylotonn also oversees the World Rally Championship series. Additionally, NACON’s motion capture company, Nacon Tech, has filed for insolvency, along with the three developers. When NACON announced its insolvency, the company stated that its goal was to “assess all possible solutions to ensure sustainability.”
In other news, NACON has postponed its upcoming Connect event, saying the team is working hard on its slate of upcoming games. Additionally, Terminator: Survivors might not be in danger according to recent social posts. What are your thoughts on the three NACON studios filing for insolvency? Leave your thoughts down in the comments, and join the official Insider Gaming Discord server.
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Surprised Focus hasn’t bought them out yet? To be fair they wouldn’t survive in todays market it’s too different and costs not to mention lack of interest in traditional single player games even Fortnite taking a hit. Biggest issue millennials entertainment is too focused on them not Gen Z. The world needs to get based.