GreedFall developer Spiders alongside a number of other NACON studios including Kylotonn and Cyanide have filed for insolvency, after the publishing giant itself filed for emergency insolvency earlier this year due to financial difficulties experienced by its parent company.
According to a report on Game Developers, all three of the aforementioned developers are moving forward with judicial reorganisation after filing for insolvency, which will freeze liabilities during the observation period, which may last up to 18 months. Each company will have the opportunity to propose a plan of action to restructure debts during this period to put them on the road to recovery.
In addition to its work on the GreedFall franchise, Spiders has also worked on other titles including Steelrising, The Testament of Sherlock Holmes, The Technomancer, and Gary Matter. Kylotonn meanwhile is another French development team who in recent years worked on the World Rally Championship series from 2015 — 2023, and under the KT Racing brand also worked on Test Drive Unlimited Solar Crown.
Nacon announced earlier this month that was delaying its Connect event while acknowledging that “things are challenging” in response to reports regarding its financial situation. The issues originate from a failed loan repayment from Bigben Interactive, its majority shareholder, due to the “unexpected refusal of its banking pool to respond to the drawdown notice.”
[Source – Game Developers Insider Gaming]
