Nacon has filed for insolvency and formally requested the opening of judicial reorganisation proceedings before the Commercial Court of Lille Métropole, the company confirmed on February 25, 2026. The move comes as the publisher and accessories manufacturer faces mounting financial pressure tied to the situation of its majority shareholder, Bigben Interactive.
Trading of Nacon shares on Euronext Paris remains suspended while the court reviews the request. The suspension was initially announced on February 20, 2026, and will stay in place until a decision is reached. The company stated that its current available assets are no longer sufficient to cover liabilities that have fallen due, prompting the insolvency filing.
Earlier this month, Nacon disclosed that financial difficulties at Bigben Interactive were directly affecting its own operations. According to the company, Bigben was unable to make a partial repayment on its bond loan after an unexpected refusal from its banking partners. That development significantly strained Nacon liquidity position and accelerated the need for a restructuring process.
By seeking judicial reorganisation under French law, Nacon aims to continue operating while working toward a structured solution with its creditors. The procedure is designed to allow companies in financial distress to freeze existing liabilities during an observation period that can extend up to 18 months. During this time, the debtor may negotiate a continuation plan focused on restructuring debt and stabilizing operations.
Nacon said the objective of the filing is to explore all viable options to safeguard its long term activity, protect employees, and preserve jobs while engaging creditors in what it described as a constructive framework. Employee representative organizations were informed of the decision on February 24, 2026.
A court hearing is expected in early March, at which point the Commercial Court of Lille Métropole will decide whether to open judicial reorganisation proceedings. Until then, uncertainty surrounding the outcome of the case will keep the company shares suspended from trading.
Nacon indicated that it will provide further updates to the market as the situation evolves and as the court process moves forward.
