Neverland Company, the studio behind Rune Factory and the Lufia series, will cease operations on November 29, the company announced.
In addition to its business environment hanging low in recent years, its loan repayments have become excessive, and it has failed to raise the funds necessary to maintain its business. The company file for bankruptcy in Tokyo district court within the next few days.
Neverland was founded on May 7, 1993. Its first game was Lufia & the Fortress of Doom for Super Nintendo.
Thanks, Game Jouhou.