Nacon subsidiaries Spiders, Kylotonn, Cyanide, and Nacon Tech have filed for insolvency.
As Game Developer reports, the France-based studios have commenced reorganisation proceedings at the Lille Métropole Commercial Court.
Spiders is known for working on Gredfall franchise, Kylotonn oversees the World Rally Championship series, and Cyanide worked on the Styx and Blood Bowl franchises. All developers are based in Paris.
Earlier this month, Nacon commenced court-supervised reorganisation proceedings to address its debt and restructure the company.
The French publisher filed for insolvency after its majority shareholder, Bigben Interactive, was unable to repay a €43 million loan.
As noted by Nacon, judicial reorganisation proceedings “are collective proceedings under French law pursuant to which liabilities arising prior to the opening judgment are frozen for the duration of the observation period, which may last up to 18 months.
“During this period, the debtor may propose a continuation plan providing for the restructuring of its debt with a view to ensuring the recovery of its business.”
Nacon currently has 25 subsidiaries, including 16 development studios.
