Nacon has filed for insolvency, as of today, 25th February 2026.
It’s a dramatic fall from grace for the game publisher, developer and accessory manufacturer. It currently holds the WRC and MXGP official licenses, owns KT Racing, which creates Test Drive Unlimited Solar Crown and Endurance Motorsport Series, plus produces the Revosim range of sim racing wheels.
It also recently published Eden Games’ Gear.Club Unlimited 3 and the console versions of Rennsport, which were developed by Competition Company and Teyon.
Its majority shareholders, Bigbean Interactive, which owns 56.72% of the French gaming corporation, announced on 17th February 2026 that its banking pool had refused to provide it with enough cash to repay part of a €43 million debt to its bondholders.
Nacon initially stated that it was “carefully studying the consequences of such a situation on its own activities and the financing associated with them.”
This rapidly escalated on 20th February to:
“The Company [Nacon] announces today that this situation is having a significant impact on its own activities.
“The Company’s [Nacon] liquidity position requires the rapid implementation of a financial restructuring with its creditors in order to ensure the continuity of its operations.”
Now it has admitted that its “available assets do not allow it to meet its due liabilities”, i.e. it cannot pay what it owes to multiple parties.
In essence, it cannot afford to pay its debts right now, but is still generating revenue from its games currently on sale, about to be on sale or awaiting any contracted payments to arrive.
This is different from bankruptcy, where the situation is so stark that it ceases trading, although it could lead to it if a resolution is not found.
It has filed for insolvency with the French court, seeking the opening of judicial reorganisation proceedings, with the stated aim of “assessing all possible solutions to ensure the sustainability of the Company’s [Nacon] activity under the best possible conditions, protect employees, and preserve jobs, while renegotiating with its creditors in a calm and constructive framework.”
Presently, the business will continue to operate while this process is underway, during which existing debts will be renegotiated in the hope of creating a continuation plan. Whatever this plan becomes, there will almost certainly be significant changes.
Understandably, its public trading on the Euronext Paris stock exchange remains halted.
This is an emerging story, Traxion will endeavour to update when more information is available.
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