French developer, publisher, and gaming hardware manufacturer Nacon appears to be in dire straits, as what was an evolving financial crisis at the company and its parent has rapidly escalated today.
Both Big Ben Interactive, which owns most of Nacon through shares and voting rights, and Nacon itself have separately filed documents at the local Commercial Court declaring financial difficulties, while trading in the shares of both companies is suspended at the Euronext bourse.
It’s a bit of a tangled web — as financial matters so often are — but ultimately the issue boils down to the fact that Nacon currently cannot pay its debts with its creditors as its assets and income don’t cover the shortfall.
As majority…