Mario & Luigi RPG Developer AlphaDream Files for Bankruptcy
posted on by Rafael Antonio Pineda
The financial research firm Teikoku Databank revealed on Wednesday that game developer AlphaDream began bankruptcy proceedings with the Tokyo District Court on Tuesday. The developer is 465 million yen (about US$4.32 million) in debt as of the end of March 2018.
Income reportedly dwindled in recent years, and the company accrued a heavy financial deficit. The company was unable to pay its debts and unable to recover through its projects.
The developer is known for its Mario & Luigi RPG series of games. The developer also produced three games in the Hamtaro franchise, as well as Bowser's Inside Story and Paper Jam.
The company was founded in May 1991 as Mente Tomo and Ai, before changing its name to AlphaStar Soft in January 2001, and then to AlphaDream in July of that year.