Another Casualty of Recession: Anime Distributor Declares Bankruptcy
PostPosted: Thu Apr 30, 2009 8:07 am
Yesterday it was announced that Central Park Media, an anime distributor that also owns U.S. Manga Corps, Software Sculptors, and Anime 18, has filed for Chapter 7 bankruptcy and closed it's doors on Monday, April 27th.
Chapter 7 bankruptcy differs from Chapter 11, in the sense that in Chapter 7 the business shuts down while Chapter 11 buys a business time to reorganize so it can survive.
The article from ANN is found here: http://www.animenewsnetwork.com/news/2009-04-28/central-park-media-files-for-chapter-7-bankruptcy
Central Park was one of the early boys who helped bring Anime to the U.S., I believe, and some of the works they brought here were sweet. I am sad to see them go.
That makes it two U.S. anime companies to go under now: First Geneon (they retreated from the U.S. back to Japan, and I think are even reorganizing themselves there), and now Central Park Media. Unless things turn around, I believe the next ones on the chopping block are Right Stuf and possibly even ADV Films (ADV is going through some hard times lately. Plus they lost distributing new movie adaptions of two of their core franchises out to Funimation Studios).
Right now the only anime distributor that seems to be doing exceptionally well is Funimation. They are just dominating.
Chapter 7 bankruptcy differs from Chapter 11, in the sense that in Chapter 7 the business shuts down while Chapter 11 buys a business time to reorganize so it can survive.
The article from ANN is found here: http://www.animenewsnetwork.com/news/2009-04-28/central-park-media-files-for-chapter-7-bankruptcy
Central Park was one of the early boys who helped bring Anime to the U.S., I believe, and some of the works they brought here were sweet. I am sad to see them go.
That makes it two U.S. anime companies to go under now: First Geneon (they retreated from the U.S. back to Japan, and I think are even reorganizing themselves there), and now Central Park Media. Unless things turn around, I believe the next ones on the chopping block are Right Stuf and possibly even ADV Films (ADV is going through some hard times lately. Plus they lost distributing new movie adaptions of two of their core franchises out to Funimation Studios).
Right now the only anime distributor that seems to be doing exceptionally well is Funimation. They are just dominating.