Production IMS — best known for producing “High School Fleet” and “Date A Live”, is currently going bankruptcy proceedings, Tokyo Shoko Research reports. The exact cause for the bankruptcy filing is currently under investigation.

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Production IMS was established in 2013, and their first project “Inari, Konkon, Koi Iroha” was well-received by anime fans. However, as their production costs increased and their cash flow deteriorated, they underwent a restructuring effort in December 2017 — which ultimately failed if bankruptcy proceedings are currently underway.