Shawn
snkusa.com
- Joined
- Aug 11, 2000
- Posts
- 2,503
I see posts throughout the forums about how SNK is dead and bankrupt, closing its doors. It’s not true bankruptcy so to speak, but it is true that SNK has alleged to start the process of Civil Reorganization, which is a legal action under the Japanese law. SNK has had a financial struggle since ’99 because of business recession, depression of the arcade video game market, and failure of the new theme park as well as too much investment in the Neo Pocket Color. However, they began receiving support from Aruze in Spring 2000. They continued their efforts to rectify the financial dept but the situation did not take a turn for the better due to the enormous amount of deficit. Unfortunately, they were unable to cover the bill of March 2001 for SNK’s creditors, this bill was dishonored. Now SNK will be doing business reconstruction under the supervision of the Court. SNK will continue to produce and release MVS games, and possibly home carts as well. SNK is not dead, the neo is not dead, not yet.
