Video game publisher Nacon has filed for insolvency. As part of the process, the trading of its shares on the Euronext Paris markets has been suspended, with the share prices it announced on February 20th being in effect. The reason for this filing, according to the press release, comes down to majority shareholder Bigben Interactive being unable to make a partial repayment of its bond loan to its bondholders. This came about from an “unexpected and late refusal” by Bigben’s banking pool, and has also had a major impact on its own operations.
To survive, Nacon is in need of a “rapid implementation of a financial restructuring”. While the company had considered going through a restructuring of its debt under the supervision…