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April 3, 2001

SNK files for bankruptcy
   [ posted by: R.I.P ]
Two years ago, we all knew a shake-up was coming to the videogame industry, although who could have guessed the level and abruptness of the events that would take place.
In that light, I suppose I should tell you that it appears that last month, SNK filed for bankruptcy protection for over $300 million in outstanding debt (based on current exchange rates). Their parent company Aruze, Ltd. is apparently doing this to stem losses from SNKs previous video game market endeavors such as the Neo-Geo Pocket.
If you would like to read the details on this story you can view the original Japanese news item, or read a translation of this item over at the Retrogames website.
As always, I'm sure this is going to get worse before it gets better, and now that Sega has become a cheap ho for X-Box, I honestly dread what's yet to come.
Let's just cross our fingers and hope for the best...

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