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Imageepoch declared bankrupt

Posted on May 12, 2015 by (@NE_Brian) in General Nintendo, News

Plenty of rumors have been circulating about Stella Glow developer Imageepoch. The company’s status has finally been made clear, and unfortunately, the news isn’t very good.

Imageepoch as well as affiliate Smile Online Game have both declared bankruptcy. The two sides have debts of 1.1 billion yen (roughly $11 million) and 3 million yen ($30,000) respectively. Imageepoch’s debt is owed to 43 creditors while Smile Online Game’s debt is owed to 5 creditors.

Back in 2011, Imageepoch made 1.751 billion yen (roughly 17.5 million) in annual income. That number dropped to 410 million yen (roughly 4.1 million) by 2013, and the company fell into debt due to game development costs and being unable to hit sales targets. Due to the worsening situation, Imageepoch ceased operations in November 2014.

Stella Glow is the latest title from Imageepoch, which is now being published by SEGA in Japan early next month. At the end of March, Atlus announced that the RPG would be coming to North America later this year.

Source, Via


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