informa
1 min read
News

Imageepoch has filed for bankruptcy

Time and Eternity developer Imageepoch has filed for bankrupcy, along with affiliate company Smile Online Games.

Newsbrief: After a period of declining sales over the past few years, Japanese game developer Imageepoch began bankruptcy procedures on May 7th. Imageepoch will have until June 4th to report their credit. 

After a profit-turning year in 2011, Imageepoch has seen a steady decline in sales and profit since then, going from 1.7 billion  yen profit in 2011 to just 400 million yen in 2013. Teikoku Databank reports that Imageepoch are currently in debt of approximately 1.1 billion yen that is owed to around 43 different creditors. 

Affiliate company Smile Online Games filed for bankrupcy along with Imageepoch, with their own 3 million yen debt to account for. 

Along with this news are reports that Imageepoch's CEO Ryoei Mikage has disappeared.

 

Sourced from Siliconera

Latest Jobs

Treyarch

Playa Vista, California
6.20.22
Audio Engineer

Digital Extremes

London, Ontario, Canada
6.20.22
Communications Director

High Moon Studios

Carlsbad, California
6.20.22
Senior Producer

Build a Rocket Boy Games

Edinburgh, Scotland
6.20.22
Lead UI Programmer
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more