French publisher Nacon has announced that it has filed for insolvency.
Last week the company announced that its majority shareholder Bigben Interactive had failed to make the partial repayment of its bond loan to its bondholders, due to “an unexpected and late refusal by its banking pool”.
Nacon stated last week that its situation “required the rapid implementation of a financial restructuring with its creditors in order to ensure the continuity of its operations”.
Today it has announced that its available assets “do not allow it to meet its due liabilities”, and that as a result “the company will, as of today, file for insolvency with the court and request the opening of judicial reorganisation proceedings”.
These…