This news saddens us to the core. What happens when a film genre is basically sucked dry of its life and validity? Bankruptcy happens apparently. Read on for the details.
Variety Reports the amount of debt and the date of official bankruptcy filing have not yet been announced. According to a report by the Bunka Tsushin news service, Ichise does not even have the funds needed to apply for legal liquidation for the company, which launched in Tokyo in 1989. The financial fate of Ichise’s L.A.-based Ozla Pictures is also unknown, though all company websites, as well as Ichise’s blog, have been shut down.
As of recent, the J horror genre has not been doing very well with horror fans and this might be a result of it. Add also that Ichise production company recently made two films that flopped does not help.
Ichise’s latest completed pic is the shocker “7500,” which is helmed by “Grudge” series maestro Takashi Shimizu, and is scheduled for a 2013 release.
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