Since the filing for civil reorganization in the court of Osaka on April 2, 2001, SNK has been trying to restore and reorganise the company but has just announced that this is not possible and that the company will be wound up and liquidated.
Just recently the Osaka court ruled that it has revoked the SNK application for reorganisation and will adjudicate SNK bankrupt by the end of this month. SNK has not announced any successor to take over any company operations at this time.
The long awaited "The King of Fighters 2001" will still be released at the end of November, but it is unclear who will be marketing the sales for international customers. Just recently SNK released "Zupapa" and had another 4-6 titles scheduled for release over the next 6 months. It is also unclear whether these titles will still be released.
SNK has been an industry icon for over 23 years, beginning in Japan in 1978 and has released hundreds of titles and enabled operators to operate low cost and steady games for many years. It is with regret we write this story and saddened to hear that all our friends at SNK have lost their job.
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