Nacon Postpones Game Showcase After Filing for Insolvency: Nacon Connect 2026 Delayed to May

The following summary details the financial insolvency of Nacon and the subsequent postponement of its major 2026 showcase.

Nacon Connect 2026 postponed to May

Nacon has officially delayed its Nacon Connect 2026 digital showcase from its original March 4 date to an unspecified time in May 2026.

• Reasoning: The publisher described this as a “strategic decision” to ensure announcements have maximum impact.
• Focus: Nacon is currently prioritizing the completion of imminent game releases and ongoing projects over holding a major event.
• Interim Updates: Despite the delay, the company plans to share updates through other channels for key titles, including GreedFall: The Dying World, Dragonkin: The Banished, and Cthulhu: The Cosmic Abyss.

Why did Nacon file for insolvency in February 2026?

Nacon’s financial crisis was triggered by a default at its majority shareholder, Bigben Interactive, which holds approximately 57% of Nacon’s equity.

• Refinancing Failure: Bigben had arranged a €43 million refinancing with French banks to cover bond debts. However, on February 13, 2026, the banks unexpectedly refused to provide the funds, citing a breach of informational obligations.
• Liquidity Crunch: The loss of these funds left Bigben unable to meet a €16.1 million bond balance. This failure cascaded to Nacon, draining its cash reserves and compromising its credit lines.
• Cessation of Payments: Unable to meet immediate liabilities, Nacon was forced to seek legal protection.

Nacon insolvency filing explained

On February 25, 2026, Nacon filed a formal declaration of insolvency (déclaration de cessation des paiements) in French court.

• Judicial Reorganisation: Nacon requested the opening of redressement judiciaire (judicial reorganisation) to restructure its debt under court supervision.
• Objectives: The filing aims to freeze existing debts, protect the jobs of over 1,000 employees, and ensure the long-term sustainability of the company’s activities.
• Court Oversight: Nacon will work with court-appointed officials to create a recovery plan, which may involve rescheduling debt or seeking new investment.

What is judicial reorganisation (redressement judiciaire) in France?

Redressement judiciaire is a protective legal process for companies that can no longer pay their debts but are not yet beyond saving.

• Observation Period: The process triggers a period of up to 18 months where creditors cannot enforce debt collection.
• Restructuring: A court-appointed administrator works with management to propose a continuation plan.
• Outcome: If a viable plan is approved, the company resumes normal operations. If no plan is found, the procedure may be converted into a judicial liquidation, where assets are sold to pay off creditors.

Nacon share trading suspension on Euronext Paris

To prevent market volatility following the news of the parent company’s default, trading of Nacon’s shares was suspended on February 20, 2026.

• Market Protection: The suspension prevents a freefall in share price and ensures all investors receive information simultaneously during the early stages of the insolvency process.
• Status: Shares remain halted on the Euronext Paris exchange pending further notice or the formulation of a restructuring plan.

Official Nacon statement on delaying Nacon Connect

Nacon’s statement attributes the postponement to a “difficult economic environment,” leading the company to prioritize its resources on upcoming releases and ongoing game development. By focusing its energy on finishing current projects, Nacon intends to utilize the additional time to polish its titles.

• Purpose of the Delay: The extra time is intended to allow studios to polish their projects so the May event can showcase their work in the best possible way.
• Impact on Presentation: Nacon believes that moving the event to May will ensure the presentations do justice to the games being displayed.
• Interim Communications: Despite the showcase delay, Nacon will continue to promote its titles through other means in the months leading up to May.
• Featured Titles: Specific games mentioned for ongoing promotional support include GreedFall: The Dying World, Dragonkin: The Banished, and Cthulhu: The Cosmic Abyss.

This official messaging makes it clear that Nacon is prioritizing the quality and impact of its announcements. Rather than rushing out a showcase under financial duress, the company is taking a pause to regroup. The tone of the statement is optimistic, implying that by May the situation will allow for a strong event highlighting both games and Nacon’s development studios. It also reassures fans that they won’t be left in the dark – updates on major games will continue through press releases, trailers, and social media even without the March livestream.

What was planned for Nacon Connect on March 4, 2026

Before the postponement, Nacon Connect 2026 was slated to be a packed digital event with game reveals and hardware news. According to Nacon’s original announcement, the program was set to include:

• Game announcements and new project reveals: The showcase would unveil new titles to expand Nacon’s upcoming catalog. Nacon hinted that surprise projects were going to be revealed beyond the known lineup.
• New trailers and gameplay presentations for anticipated games: Fresh footage and updates were promised for several key titles, “such as Cthulhu: The Cosmic Abyss, The Mound, Edge of Memories, and Endurance Motorsport Series.” These games span genres from horror to racing (more on each below), and fans were expecting significant new looks at each.
• Updates from Nacon’s accessories division: Uniquely, Nacon Connect isn’t only about software – it also highlights the latest from Nacon’s gaming peripherals and hardware department. This could have included new controllers, headsets, or other gear that Nacon produces for console and PC gaming.
• Date and time: The event was scheduled for Wednesday, March 4, 2026 at 11:00 AM PST / 2:00 PM EST / 8:00 PM CET. Nacon had circulated a teaser and social media posts encouraging players to tune in at that time on YouTube or Twitch.
• Livestream platforms: The showcase was going to be streamed live on Nacon’s official YouTube and Twitch channels, and even promoted via Xbox and PlayStation’s social channels, making it easy for fans to watch on their platform of choice.

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Nacon Connect 2026 Event Overview

Nacon Connect is the publisher’s annual “E3-style” event intended to spotlight upcoming software and hardware. The 2026 edition was expected to feature world premieres and development updates for several high-profile projects.

• Format: A roughly one-hour livestream featuring world premieres and surprise announcements.
• Hardware: The showcase traditionally debuts pro-gaming gear, such as the Revolution series controllers and Daija arcade sticks.
• New Projects: Teased “brand-new game announcements” were intended to enrich the catalog for late 2026 and 2027.

Updates on Key Game Titles

Despite the event delay and insolvency proceedings, several titles are moving forward toward their scheduled release dates.

GreedFall: The Dying World (GreedFall 2)

• Release Date: March 12, 2026 (Version 1.0).
• Platforms: PC, PS5, Xbox Series X|S.
• Details: A prequel set three years before the original game. Players take the role of a Teer Fradee native navigating the continent of Gacane.
• Status: Remains on track for its exit from Early Access.

Dragonkin: The Banished

• Release Date: March 19, 2026 (Version 1.0).
• Platforms: PC, PS5, Xbox Series X/S.
• Details: A co-op action RPG developed by Eko Software. It features three classes (Barbarian, Oracle, and Knight) fighting “Dragon Lords.”
• Status: Recently completed an Open Beta on Steam; the launch timeline appears secure.

Cthulhu: The Cosmic Abyss

• Release Date: April 16, 2026.
• Platforms: PS5, Xbox Series X|S, PC.
• Details: A first-person Lovecraftian horror game set in 2053. It follows a rescue specialist exploring an underwater mining station near R’lyeh.
• Status: Expected to release before the rescheduled May showcase.

The Mound: Omen of Cthulhu

• Details: A cooperative action-adventure game developed by ACE Team. It features a squad of explorers in the 18th century facing supernatural threats in a cursed jungle.
• Status: Early development; more gameplay footage is expected at the May showcase.

Edge of Memories

• Release Window: 2026 (Date TBA).
• Details: An action RPG follow-up to Edge of Eternity. It transitions from turn-based to real-time combat, focusing on a nomadic “Soul Whisperer” named Eline.
• Status: Internal development at Midgar Studio is continuing under court oversight.

Endurance Motorsport Series

• Release Window: 2026 (Date TBA).
• Details: A racing simulator by KT Racing focusing on long-distance races (up to 24 hours). It emphasizes pit strategy, weather adaptation, and car reliability.
• Status: Still officially on the roster, though timeline adjustments are possible due to high licensing and production costs.

Impact on Studios and Hardware Business

Nacon’s judicial reorganisation has significant implications for its 1,000+ employees and 16 internal development studios.

• Studio Operations: The redressement judiciaire process is designed for business continuity. While immediate shutdowns are not expected, long-term survival depends on a successful recovery plan.
• Project Prioritization: Nacon is likely to prioritize near-complete titles to generate immediate cash flow, while more speculative, far-off projects may face budget cuts.
• Gaming Peripherals: Nacon continues to sell and support its current hardware. However, the release cadence for new accessories may slow as the company focuses on core, high-return products.
• Novacorp Influence: The specialist coalition (including Emblem and High Viz) remains committed to the event’s legacy if conditions improve.

Rescheduled Showcase Details

Nacon Connect 2026 is now tentatively scheduled for May 2026.

Announcements: Specific date and time details are expected to be released a few weeks prior to the event.

Livestream Channels: The event will be hosted on Nacon’s official YouTube and Twitch channels.

Platform Support: Rebroadcasts or simultaneous streams are expected on Xbox and PlayStation official channels.

Frequently Asked Questions (FAQs)

1. Why was Nacon Connect 2026 delayed?
   The showcase was postponed because Nacon entered insolvency and judicial reorganisation in late February 2026. The company decided to delay the event to May so that its announcements could have the proper impact, given the “difficult economic environment” it is navigating. In short, financial troubles forced Nacon to refocus its resources on finishing games and restructure its finances, pushing the big showcase back by a couple of months.
2. When will Nacon Connect 2026 happen now?
   Nacon Connect 2026 is now scheduled for May 2026, with the exact date yet to be announced. Nacon has only said “May” for the new event timing. We expect them to announce a specific date and time once we get closer to that month and once their restructuring plans are a bit more settled. Stay tuned to Nacon’s official channels for an update on the precise date.
3. How can I watch the Nacon Connect 2026 livestream?
   You can watch Nacon Connect 2026 live on Nacon’s official YouTube and Twitch channels. The event will also likely be streamed via Xbox’s and PlayStation’s social channels, since Nacon often partners with them to broadcast to those audiences. Once the new date/time is announced, simply head to Nacon’s YouTube or Twitch at the appointed time (originally it was planned for 8PM CET / 7PM BST / 2PM EST / 11AM PST, and the May event will probably be around a similar time of day). You can also set reminders or follow Nacon on Twitter for the live link when it goes live.
4. What is Nacon Connect?
   Nacon Connect is the company’s annual digital showcase event where Nacon announces and exhibits upcoming video games and sometimes gaming hardware. It’s similar to a mini E3 or Nintendo Direct dedicated to Nacon’s products. During Nacon Connect, you can expect world-premiere trailers, gameplay demos, developer interviews, and reveals of new projects in Nacon’s pipeline. It’s an important marketing event for Nacon to generate hype for its games (like GreedFall 2, Test Drive Unlimited, etc.) and accessories (controllers, etc.).
5. Which games were supposed to be shown at Nacon Connect 2026?
   Nacon confirmed several anticipated titles for the show, including Cthulhu: The Cosmic Abyss, The Mound: Omen of Cthulhu, Edge of Memories, and Endurance Motorsport Series. They also planned to showcase GreedFall: The Dying World (GreedFall 2) and Dragonkin: The Banished through updates or trailers. Additionally, Nacon hinted at completely new game announcements that had not yet been revealed. So the lineup was a mix of known upcoming releases and surprise new projects.
6. Are the upcoming game releases like GreedFall: The Dying World and Dragonkin: The Banished being delayed because of Nacon’s insolvency?
   No, those releases are still on schedule as of now. GreedFall: The Dying World is set to launch on March 12, 2026, and Dragonkin: The Banished on March 19, 2026. Nacon has stated that it will continue to support these games with marketing communications despite the financial situation. There has been no indication that the insolvency has delayed their development or release dates. In fact, both games were in late stages (GreedFall 2 exiting Early Access, and Dragonkin launching Version 1.0) by the time Nacon filed for insolvency, so they are pushing ahead. Of course, Nacon Connect’s delay means any big media push for them via the event won’t happen in early March, but Nacon will likely promote them through trailers, press releases, and social media instead.
7. What exactly does it mean that Nacon filed for insolvency? Is the company bankrupt?
   Nacon filing for insolvency means it formally declared it cannot meet its current debt obligations and has asked a court for protection while it reorganizes. It’s not the same as liquidation or going out of business (bankruptcy in the colloquial sense). Instead, Nacon is undergoing judicial reorganisation (redressement judiciaire), which freezes its debts and gives it time to restructure and negotiate with creditors under court oversight. During this period, Nacon continues operating (making games, selling products) as normal as possible. The goal is to come up with a plan (e.g. extending debt repayments, finding new financing) that allows the company to become solvent again. If that plan succeeds, Nacon will emerge from insolvency and continue business. If it fails, then more drastic measures like selling assets or liquidation could occur. So, insolvency filing is a protective measure to avoid collapse, not an indication that Nacon is gone – the company is still very much active right now.
8. What is “redressement judiciaire” that Nacon is under?
   Redressement judiciaire is French for judicial reorganisation, a legal process for financially distressed companies in France. When a company enters redressement judiciaire, a court freezes all its existing debts and appoints administrators to oversee the company’s finances. The company then gets an observation period (up to 18 months) to figure out a turnaround plan. During this time, the company can’t pay old debts (so it gets breathing room) but it must pay any new expenses incurred. The idea is to allow the company to keep operating (so that it can generate revenue and have a chance at recovery) while coming up with a plan to restructure or reduce its debt. If a viable plan is presented and accepted by creditors/court, the company can continue. For Nacon, this means they’re currently protected from, say, creditors suing or forcing asset sales, and they are working on a plan to restructure their debt after the Bigben bond fiasco. It’s akin to Chapter 11 bankruptcy in the US, but under French law.
9. How will Nacon’s financial troubles affect its studios and future games?
   In the immediate term, Nacon says it’s continuing all ongoing projects – the studios under Nacon (like Spiders, Cyanide, Daedalic, Kylotonn, etc.) are still working on their games. The company’s goal in restructuring is to protect its employees and keep projects going. However, depending on how the financial reorganisation goes, there could be some impact. It’s possible Nacon might reprioritize its portfolio, maybe delaying or scaling down some future projects that are early in development, to conserve cash. If things go well, though, the hope is no studios will be shut and no major projects canceled – instead, Nacon would refinance and keep its 16 development studios intact. The worst-case scenario (if Nacon’s reorganisation fails) could mean studios being sold off or projects canceled, but that’s speculative and is what the company is trying to avoid. For now, upcoming games through 2026 are still on the roadmap, and Nacon Connect in May should give us reassurance by showing those games progressing.
10. Where can I get the latest updates on Nacon Connect and Nacon’s games given the delay?
    To stay updated, you should follow Nacon’s official communication channels. Nacon’s Twitter (X) account and Facebook page will post news about the rescheduled Nacon Connect date, new trailers, and any development updates. The company’s official website (nacongaming.com) also posts press releases and news items. Additionally, gaming news outlets like GamesIndustry.biz, Gematsu, and Wccftech have been covering Nacon’s situation – they reported the insolvency filing and the Connect delay promptly. So keeping an eye on reputable gaming news sites will ensure you won’t miss announcements. When May approaches, look out for a fresh Nacon Connect teaser video on YouTube as well. And of course, once the event happens, Nacon will likely upload all the individual trailers to its YouTube channel for on-demand viewing if you can’t watch the livestream. In summary, follow Nacon on social media and subscribe to their YouTube/Twitch, and you’ll catch all the important updates around Nacon Connect and their games.

Conclusion

Nacon’s decision to postpone the Nacon Connect 2026 showcase highlights the turbulent intersection of game development and corporate finance. The company’s financial hiccup – sparked by Bigben’s bond repayment debacle – forced a strategic retreat in the interest of delivering a more impactful event a few months later. Despite the setback, Nacon is pressing ahead with its slate of new games: fans will soon get to play GreedFall: The Dying World and Dragonkin: The Banished as planned, and Cthulhu: The Cosmic Abyss is on the horizon for April. Meanwhile, eagerly anticipated titles like Edge of Memories, The Mound: Omen of Cthulhu, and Endurance Motorsport Series continue in development, aiming to shine at the rescheduled showcase in May.

For gamers, the Nacon Connect delay is a minor disappointment tempered by the assurance that those games are still coming. In fact, by May 2026, Nacon Connect could end up being an even more robust presentation – potentially featuring launch recaps for the March/April releases and deeper dives into the later projects. The extra time might also allow Nacon to stabilize its footing and present a confident face to the public and investors alike.

Nacon’s situation also underscores the resilience of the gaming industry: even as the company undergoes painful financial restructuring, the creative work of its studios goes on. The coming weeks will be critical as Nacon formulates its continuation plan under court supervision. If all goes well, Nacon will emerge from insolvency later in 2026 with a leaner operation but an exciting catalog of games and accessories for players to enjoy. All eyes will be on the new Nacon Connect in May, which will not only showcase upcoming titles but also serve as a barometer for Nacon’s recovery.

With Cthulhu stirring in the depths and racers revving for 24-hour grinds, Nacon’s story is far from over – it’s simply on pause, gearing up for the next chapter.

Sources and citation

• Nacon PR, March 2, 2026 — postponement of NACON Connect.
• Nacon PR, February 25, 2026 — insolvency / judicial reorganisation filing; Wccftech coverage; Bigben PR, February 17, 2026 — failed partial repayment / refinancing issue.
• Nacon PR, February 20, 2026 — temporary suspension of trading in Nacon shares; Bigben PR, February 20, 2026 — temporary suspension of trading in Bigben shares and bonds; Wccftech coverage.
• Nacon PR, February 25, 2026 — filing for judicial reorganisation after declaring cessation of payments; Wccftech coverage; follow-up Nacon PR, March 3, 2026 — opening of judicial reorganisation proceedings.
• Nacon PR, February 25, 2026 — explanation of judicial reorganisation in France.
• GamingTrend — “NACON Connect returns March 4th”; Gematsu — “Nacon Connect 2026 set for March 4”.
• GamingBolt — Nacon Connect announcement / lineup teaser; GamingTrend — March 4 showcase details.
• GamingBolt — GreedFall: The Dying World exits Early Access on March 12; PlayStation Lifestyle — release date + prequel context.
• Bleeding Cool — Dragonkin: The Banished confirmed for mid-March launch; Bleeding Cool — open beta with co-op before release.
• GamingBolt — Cthulhu: The Cosmic Abyss release date in Nacon Connect lineup; Steam listing — Cthulhu: The Cosmic Abyss.
• Nacon official page — The Mound: Omen of Cthulhu.
• GamingBolt — Edge of Memories / Endurance Motorsport Series lineup details; Wccftech — Edge of Memories Gamescom hands-on preview.
• Steam store — Endurance Motorsport Series; Steam Community / official dev letters; official X account.
• Wccftech — Nacon files for insolvency; Nacon PR, February 25, 2026 — 16 studios / 1000+ employees / continuation plan language.
• Gematsu — “Nacon Connect 2026 postponed to May”; Nacon PR, March 2, 2026 — official delay statement.
• Hardwareluxx (German) — “Nach Insolvenz: NACON verschiebt Showcase auf Mai”.
• GamesIndustry.biz — “Nacon postpones game showcase after filing for insolvency”; Ground News entry for the same item.

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