SNK files for bankruptcy

The popular fighting game developer has reached the end of its rope.

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Citing debt of 38 billion yen, SNK has filed for bankruptcy. Aruze Ltd., which previously acquired an interest in SNK, began closing branch offices and lightening its inventory in March. SNK had filed for debtor's exemption under the Conciliation Act but decided it would file for bankruptcy before the exemption hearings could take place.

No word has been given regarding the long-term prospects for SNK properties. We'll have more information as it develops.

Source: tdb.co.jp

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