Nacon Files for Insolvency and Seeks Judicial Reorganisation in France

Nacon starts formal court-supervised restructuring

Nacon said on February 25, 2026 that it filed for insolvency (déclaration de cessation des paiements) and requested the opening of judicial reorganisation proceedings (redressement judiciaire) before the Commercial Court of Lille Métropole. The statement came from the company’s official press release published in Lesquin at 08:00 local time.

The gaming company said the filing follows a severe liquidity strain and that its available assets are no longer sufficient to meet due liabilities. Nacon framed the court process as a way to keep operations running while it renegotiates debt under judicial supervision, rather than an immediate shutdown process.

What led to this filing

In the same release, Nacon linked the situation to issues at its majority shareholder, Bigben Interactive. According to Nacon, Bigben was unable to complete a partial repayment of its bond loan after an unexpected late refusal by its banking pool. Nacon said that development had materially affected its own operations.

Nacon had already disclosed on February 20, 2026 that it needed rapid financial restructuring with creditors. The February 25 filing formalizes that path and moves the next step to court review.

What happens next

The company said a court hearing is expected in early March. Until the court decision, the suspension of trading in Nacon shares on Euronext Paris remains in effect, according to the press release.

Nacon described judicial reorganisation as a legal framework that can freeze existing liabilities during an observation period of up to 18 months while management proposes a continuation plan. In practical terms, this buys time to reorganize debt and protect day-to-day activity if the court accepts the request.

The company also said employee representative organizations were informed on February 24, 2026. Nacon emphasized three priorities: sustaining activity, protecting employees and jobs, and negotiating with creditors in an orderly setting.

Why this matters for gaming

Nacon remains a visible publisher and accessories business in Europe. In the same release it reported IFRS revenue of €167.9 million and operating profit of €1.1 million for 2024/2025, with more than 1,000 employees and operations spanning multiple subsidiaries.

For players and partners, the immediate signal is continuity under legal supervision, not a declared liquidation. The key variable now is whether the court opens the requested proceeding and what restructuring plan emerges in early March and after.