Japanese RPG developer Imageepoch and affiliate company Smile Online Games filed for bankruptcy on May 7th, according to a report from Teikoku Databank, as translated by Siliconera. The two companies have until June 4th to report their credit and are scheduled to have a property advisory meeting on July 30th.
Imageepoch was founded in 2004. Its first game release was Luminous Arc for the DS and its final game looks set to have been Stella Glow, which was recently confirmed for release in the West.
The developer currently owes 43 different creditors a total of 1.1 billion yen. It earned 1.7 billion yen of profit in September 2011, but figures have continued to decline to just 400 million yen in revenue by September 2013.
Imageepoch CEO Ryoei Mikage recently disappeared and there is no word on his location.
Source:
vgchartz.com/article/259062/imageepoch-files-for-bankruptcy-ceo-still-missing/Related Brainwaves
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