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With low morale and an unclear future, many of the company's employees left their jobs. [12] Some joined rivals Capcom and Arc System Works, and others moved on to found the developer Dimps. Kawasaki, along with five other former SNK executives, funded the formation of BrezzaSoft, which continued to develop Neo Geo games such as The King of Fighters 2001. [13] With a total debt of about 38 billion yen, SNK gave up on voluntary reconstruction, and on April 2, 2001, SNK applied for the application of the Civil Rehabilitation Law to the Osaka District Court, effectively going bankrupt. [22][23] The application was accepted, and the revitalization procedures were once proceeded, and the head office returned to Suita City, Osaka Prefecture. [24] The district court decided to abolish the civil rehabilitation proceedings on October 1, of the same year,[25][26] and declared bankruptcy on October 30. [27][28][29][30][31][32] Licenses for SNK's game production and development rights to its franchises were sold to several other companies. These included BrezzaSoft, which produced The King of Fighters 2001, such as South Korean-based Eolith, which produced The King of Fighters franchise between 2001 and 2002, and Mega Enterprise, which produced Metal Slug 4. [13] In 2001, the Neo Geo family ended. It was briefly revived 11 years later with the Neo Geo X. [13] At the time of established (2001–2016)[edit] Established as Playmore Corporation on August 1, 2001.
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