Nacon's crisis deepens as four studios declare insolvency

Nacon, the European video game publisher and developer, is facing a deepening crisis mere weeks after declaring insolvency and initiating a financial restructuring. Despite the launch of GreedFall: The Dying World in March, four of its own studios have filed for insolvency and entered judicial administration. These affected studios include Cyanide, Spiders, Kylotonn, and Cyanide's subsidiary Big Bad Wolf.

Over 320 employees impacted

The situation leaves over 320 employees dependent on these studios, with their futures and projects hanging in the balance. While the studios are not closing immediately, their fate remains uncertain, putting them in a vulnerable position.

Judicial administration implies that a court-appointed administrator will take control of the companies' assets, potentially selling them to pay off accumulated debts. This process does not necessarily mean the end for these studios but rather complicates Nacon's recovery.

Nacon's own prospects seem grim, with the company delaying its Nacon Connect event from March to May in hopes of a more favorable situation. The impact is already being felt, as the crisis weighs heavily on the video game industry.