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The video game publisher finds itself in some serious financial troubles out of the blue.
"Hi there, welcome back to GRTV News, I'm Alex, as always going through the afternoons latest and greatest when it comes to gaming, technology, entertainment, whatever you like and indeed whatever you love, we always have it here for you at GRTV News and in the wider Gamereactor network as a whole."
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So without further ado though today, we're talking a very serious matter involving Nacon, the publisher of the recently released Styx Blade of Greed, the publisher of the upcoming Cthulhu The Cosmic Abyss and the publisher of many many games over the past few years has filed for insolvency."
"So this comes not only as a surprise to us considering as we mentioned in the title of the news piece that Nacon effectively announced the new Nacon Connect just a couple of days ago, but also the fact that it seems to be a surprise for Nacon itself because basically this all revolves around the company's primary shareholder Big Ben Interactive or its parent company I guess you'd call it, which following and I quote from the sort of newsletter that we got from Nacon about this account, which following an unexpected and late refusal by its banking pool was unable to make the partial repayment of its bond loan to bondholders and was significantly affecting its own operations."
"So this means that essentially Nacon because its big daddy parent company Big Ben has met its own share of financial troubles that it has essentially had those financial troubles passed down onto itself without its prior knowledge it seems.
There will be some financial restructuring undergoing soon at Nacon which is probably going to have some big effects on people working there and the company as a whole in the near future."
"There's also going to be the restructuring of its debt under the supervision of the court.
The catch for Nacon also affirms that its available assets do not allow it to meet its due liabilities which is why the insolvency has been brought out because essentially it doesn't have the available assets to sort of deal with the loans and the financial troubles that it finds itself with."
"Nacon, this isn't by the way any sort of point to raise about any recent game or anything like that and not doing well for Nacon, this purely seems to be on the back of Big Ben Interactive because Nacon as we know was announcing the Nacon showcase, there's more games coming out this year, there was a lot of stuff that seemed to be going quite well for Nacon and Nacon's one of those publishers as well that also has its fingers in multiple different pies, there's a lot of controllers made by Nacon, there's a lot of other accessories made by Nacon so it's not just about the games publishing department but even in the games publishing department it always seems to be doing pretty well for itself, it doesn't have any major major hits or major major franchises but the games that it makes usually go down pretty well with the fanbase that they have."
"So yeah, as I say quite a shock this morning for a lot of people and hopefully this doesn't affect people too much, again fingers crossed because it's just the volatility of the games industry continues to impress me even though we're like three years into it being this completely unsafe place for workers now but yeah, let me know what you think of this, let me know if you think Nacon could bounce back, how it should bounce back and I'll see you tomorrow for more GRCviews, goodbye!"
