Nacon filed for insolvency days before Nacon Connect — and GreedFall 2 launches in two weeks

Insolvency, a showcase, and a major RPG launch walked into the same week

Timing matters. Nacon’s court filing to enter insolvency/redressement judiciaire comes days before its March 4 Nacon Connect stream and roughly two weeks before GreedFall 2 ships in final form – a squeeze that turns an already delicate release cadence into a legal and financial pressure test.

• Immediate risk: The insolvency procedure pauses debt repayments and gives Nacon breathing room, but it also hands creditors and a court a decisive role in any near‑term spending.
• Releases on the line: GreedFall 2 (Early Access now) has final PC/console dates in mid‑March; Nacon Connect is March 4 – all before a court hearing expected in early March.
• What to expect: The company can keep operating while it negotiates, but marketing, distribution and post‑launch support are the first things that get squeezed if creditors impose strict conditions.

What actually happened – the tight timeline

Multiple outlets report the same core facts: Nacon declared cessation of payments and asked a French court to open insolvency/restructuring procedures after its majority owner, Bigben Interactive, missed a loan repayment (Steam News; TechRaptor). The move is explicitly intended to freeze liabilities while Nacon draws up a “continuation plan” and renegotiates with creditors — a process French law allows under a period of observation that can last up to 18 months (ActuGaming).

The schedule makes this concrete. Nacon is due to host Nacon Connect on March 4, and GreedFall 2: The Dying World is scheduled to leave Early Access and reach its 1.0 version in mid‑March — GamesPress lists PC on March 10 and consoles on March 12, while Steam News cites a March 12 full release. A court hearing to decide on restructuring is expected in early March, putting judicial oversight squarely between the showcase and the launch.

Why this matters beyond corporate PR

Legally, the restructuring pathway both protects the company from immediate creditor action and limits what it can spend. Practically, that’s a problem for launches. Final marketing pushes, physical production, platform certification, and day‑one patch teams all require cash and managerial bandwidth. If the court or lenders demand tight controls, those discretionary spend areas are the easiest to trim.

Spiders — GreedFall 2’s developer — is one of several studios inside Nacon’s umbrella (others include Ishtar and Passtech). The insolvency doesn’t automatically shutter those teams, but it does make everything contingent on whether a continuation plan is accepted and who ends up footing the bill for distribution, QA and post‑launch fixes.

The uncomfortable observation the PR won’t lead with

Nacon’s statement frames the filing as a job‑saving move. That’s plausible — insolvency procedures can preserve operations while a solution is found — but it’s also the same legal maneuver that hands control to creditors and a court for the duration of the observation period. If you were interviewing the PR rep right now, the question to ask is: why keep the showcase on the calendar before securing creditor sign‑off? Either confidence is misplaced or the company is gambling that a public launch will strengthen negotiating leverage.

Where reporting diverges (and what it means)

Sources agree on the insolvency filing and the looming court date, but there’s a small divergence on release dates: GamesPress lists a PC final release on March 10 with consoles on March 12, while other outlets and Steam listings emphasize March 12 as the final 1.0 date. That mismatch matters operationally; even a two‑day difference can be decisive for certification windows and post‑release hotfixes if access to funds is being curtailed.

What to watch next — specific signals that will tell you if GreedFall 2 is safe

• Early March court hearing outcome — whether the court opens restructuring and under what conditions (this is the primary binary).
• Whether Nacon Connect on March 4 proceeds unchanged, is scaled back, or is canceled — a pulled showcase would be a strong signal of creditor pressure.
• Statements from Spiders and platform storefronts about launch logistics — confirmations from Valve, Sony, Microsoft, and Nintendo about build acceptance or delayed certification matter more than PR rhetoric.
• Retail and physical distribution notices — delays or cancellations there point to cash or supply‑chain constraints.

Keep an eye on those signals over the first two weeks of March. A quiet launch followed by patch silence is a textbook sign that the game shipped but the publisher no longer has the capacity to support it properly.

TL;DR

Nacon filed for insolvency just before a March 4 showcase and right before GreedFall 2’s mid‑March full release, forcing a court to weigh restructuring. The procedure lets the company keep operating but hands creditors influence over near‑term spending — which can delay marketing, certification and post‑launch support. Watch the early March court decision, whether Nacon Connect goes ahead, and platform/retailer confirmations for the clearest signs of whether the release will actually be supported.