Styx: Blades of Greed and Hell is Us publisher Nacon files for insolvency

French video game publisher Nacon has filed for insolvency, after the company's majority shareholder Bigben Interactive failed to make the partial repayment of its bond loan to its bondholders. This, Nacon said, was due to "an unexpected and late refusal by its banking pool".
A company is insolvent when it can't pay its debts, meaning it is at risk of being closed down. Last week, the Styx: Blades of Greed publisher stated its situation "required the rapid implementation of a financial restructuring with its creditors in order to ensure the continuity of its operations".
This morning, Nacon subsequently announced its available assets "do not allow it to meet its due liabilities". As such, the company will now file for insolvency with the Court and "request the opening of judicial reorganisation proceedings".
The publisher stated its aim 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 allow the publisher to "continue its business, renegotiate its debts, and develop a credible and effective continuation plan". It added the suspension of the company's share price which was first announced on 20th February will remain in effect for now.
In addition to the recently-released Styx: Blades of Greed, Nacon also handled publishing duties for Hell is Us and RoboCop: Rogue City - Unfinished Business, to name a few. The publisher will be hosting its next Nacon Connect showcase next month, on 4th March. You can check out a little teaser for it below.
Our Jim recently awarded Styx: Blades of Greed four stars, stating while it "isn't quite as well cut out as a fine piece of quartz", it is still "easily the best stealth game in years".