The producers of critically acclaimed anime series like FLCL, Gurren Lagann, and Neon Genesis Evangelion Gainax declared bankruptcy on June 7 and plan to close their business operations.
Despite inheriting the glittering anime legacy, the studio was dealing with financial problems throughout its 40-year history.
According to IGN details, the studio dealt with various problems like production issues, 90s tax frauds and numerous lawsuits especially the case of Studio Khara, which was established by Gainax owner & Evangelion director Hideaki Anno.
As a result, all of these problems had been festering for years, and in the current year, a debt collection company sued Gainax, which witnessed the company declare bankruptcy on May 29.
According to the official statement from specific company’s site, a significant debt was accumulated since 2012, and the management incompetence cited further contributed to studio’s downfall.
Even though the studio is closing, trademark of Gainax has now been transferred to Studio Khara.
According to the company’s statement, they agreed to an offer from the management team and, in return, provided supportive loans to finalize the deal. However, the situation deteriorated significantly, leading to the arrest of the former representative director in 2019 for a criminal case unrelated to corporate management.
Currently, studio khara will facilitate the transfer of intellectual property (IP) rights to other companies and creators.
Later, the studio’s statement said,
‘It is a shame that an animation studio with a history of just under 40 years has come to an end like this. As stated in the release from Gainax, the trademark and title of GAINAX are acquired and managed by our company.’