After a series of bankruptcy proceedings, Japanese animation studio, Production IMS, officially closes. Tokyo Shoko Research reported that the company is in debt for a total of 250 million yen, thus forcing them to file for bankruptcy. The bankruptcy proceedings commenced on 3rd October before the company officially closed their doors.
According to Tokyo Shoko Research, the studio went bankrupt mainly due to stagnant sales and deteriorating cash flow. They also attributed it to rising production costs, as well as an increase in payment to various subcontractors. The company did try to restructure, even closing its Hikarigaoka Studio in Tokyo in December 2017. However, all these measures weren’t enough to prevent its bankruptcy.
The studio’s closing threatens the upcoming High School Fleet (Haifuri) film, which they announced last April 2018. Fortunately, as the studio closed its website, the Haifuri anime’s official website remained open. This gave fans a ray of hope that another studio might come along and pick it up. The film is supposed to serve as a direct sequel to the hit naval battle anime.
Production IMS was established in 2013, and their first project “Inari, Konkon, Koi Iroha” was well-received by anime fans. Their other works include Date A Live II (2014), Gonna be the Twin-Tail!! (2014), The Testament of Sister New Devil (2015), Castle Town Dandelion (2015), The Testament of Sister New Devil Burst (2015), Active Raid (2016), Hundred (2016), High School Fleet (2016), Hybrid × Heart Magias Academy Ataraxia (2016), and Takunomi. (2018).
Source: Tokyo Shoko Reserach