Editing SNK (section)

==={{anchor|2000–2001: Bankruptcy}}Bankruptcy (2000–2001)===
SNK had focused on the booming arcade industry for the 1990s, but as interest in arcades fell in favor of home and portable consoles going into the 2000s, as well as the move to 3D, they were unable to adjust to the changing market. Their newer 3D hardware [[Hyper Neo Geo 64]] was a large failure and the amusement parks opened in Japan also proved to be failing.<ref>{{Cite web |last=Donohoo |first=Timothy Blake |date=2023-08-17 |title=SNK: What Happened to Gaming's Biggest Fighting Game Developer? |url=https://www.cbr.com/what-happened-to-snk/ |access-date=2024-09-04 |website=CBR |language=en}}</ref>

SNK tried to develop more titles for the third-party home console market, such as ''[[Shinsetsu Samurai Spirits Bushidō Retsuden]]'', ''[[Athena: Awakening from the Ordinary Life]]'', ''[[Koudelka]]'', and ''[[Cool Cool Toon]]'', but as none of them sold well it left the company's financial situation in a dire state. In January 2000, SNK's poor financial status led to its acquisition by [[Universal Entertainment|Aruze]], a company known for its [[pachinko]] machines and the parent company of its competitor [[SETA Corporation|SETA]]. Instead of developing video games using SNK's intellectual properties, Aruze manufactured pachinko machines that featured popular series such as ''King of Fighters''. SNK saw little success in the video game market.<ref>{{Cite web |last=Provo |first=Frank |date=2004-07-11 |title=The History of SNK |url=https://www.gamespot.com/articles/the-history-of-snk/1100-6089278/ |access-date=2023-06-24 |website=GameSpot |language=en-US}}</ref>

The same year, [[Capcom]] agreed to create a series of fighting games featuring both companies' fighting game characters. The ''[[SNK vs. Capcom|Capcom vs. SNK]]'' games were a success, however most of the profits went to Capcom because it developed and published the games. SNK released ''[[SNK vs. Capcom: The Match of the Millennium]]'' and ''[[SNK vs. Capcom: Card Fighters Clash]]'' on the Neo Geo Pocket Color. Combined, the two games sold around 50,000 copies.

SNK closed all American, Canadian and European operations, on June 13, 2000.<ref>{{cite web|url=https://www.ign.com/articles/2000/06/10/snk-closing-its-doors|title=SNK Closing Its Doors|date=2000-06-09|access-date=2023-06-19|language=en|last=Gantayat|first=Anoop|website=IGN}}</ref><ref>{{cite web|url=https://www.ign.com/articles/2000/06/14/snk-confirms-us-closure|title=SNK Confirms US Closure|date=2000-06-13|access-date=2023-06-19|language=en|last=Gantayat|first=Anoop|website=IGN}}</ref> The company sold rights to distribution in North America for MVS arcade systems and Neo Print photo systems. It licensed North American localizations of some console releases to outside companies. With low morale and an unclear future, many of the company's employees left their jobs.<ref name="会社概要" /> 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]]''.<ref name="GameSpotHistory" />

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.<ref>{{cite web|url=https://dengekionline.com/data/news/2001/4/2/c14c1884c2f4d49cba016410225f2b7a.html|title=エス • エヌ • ケイが大阪地裁に民事再生手続きを申請！|date=2001-04-02|access-date=2024-03-14|language=ja|website=電撃オンライン}}</ref> The application was accepted, and the revitalization procedures were once proceeded, and the head office returned to Suita City, Osaka Prefecture.<ref>{{cite web|url=https://game.watch.impress.co.jp/docs/20010402/snk.htm|title=SNK applies for the start of civil rehabilitation proceedings and abandons voluntary reconstruction|last=Funatsu|first=Minoru|date=2001-04-02|access-date=2024-03-14|language=ja|website=Impress}}</ref><ref>{{cite web|url=https://www.gamespot.com/articles/snk-files-for-bankruptcy/1100-2703940/|title=SNK files for bankruptcy|date=2001-04-03|access-date=2024-03-14|language=en|website=GameSpot}}</ref> The district court decided to abolish the civil rehabilitation proceedings on October 1, of the same year,<ref>{{cite web|url=https://game.watch.impress.co.jp/docs/20011004/snk.htm|title=SNK abandons civil rehabilitation proceedings and releases "KOF2001" with a different distributor|last=Kitamura|first=Takakazu|date=2001-10-04|access-date=2023-08-30|language=ja|website=Impress}}</ref><ref>{{cite web|url=https://dengekionline.com/data/news/2001/10/5/28c1328d2c4291d598c92b2187d02808.html|title=SNKが再建を断念。発売間近の『ザ・キング・オブ・ファイターズ2001』はどうなる？|date=2001-10-05|access-date=2024-05-21|language=ja|website=電撃オンライン}}</ref> and declared [[bankruptcy]] on October 30.<ref name="goodbyesnk">{{cite web|url=http://www.neogeo.co.jp/bye_index.html|title=SNK FOR EVER|date=2001-10-29|access-date=2025-04-14|website=SNK}}</ref><ref>{{cite web|url=http://www.personal.triticom.com/~erm/www.neogeo.co.jp/bye_index.html|title=エス・エヌ・ケイ フォーエバー|date=2001-10-29|access-date=2023-10-29|website=エス・エヌ・ケイ|archive-url=https://web.archive.org/web/20020602104927/http://www.personal.triticom.com/~erm/www.neogeo.co.jp/bye_index.html|archive-date=June 2, 2002 }}</ref><ref>{{cite web|url=http://www.zdnet.co.jp/gamespot/gsnews/0111/02/news12.html|title=SNKが大阪地裁から破産宣告|date=2001-11-02|access-date=2024-03-14|language=ja|website=ZDNet JAPAN|url-status=dead|archive-url=https://web.archive.org/web/20011119190840/http://www.zdnet.co.jp/gamespot/gsnews/0111/02/news12.html |archive-date=November 19, 2001 }}</ref><ref>{{cite web|url=http://www.gpara.com/news/01/11/news200111020001_et.htm|title=アルゼがSNK株主より損害賠償請求|date=2001-11-02|access-date=2024-03-14|language=ja|website=ジーパラドットコム|url-status=dead|archive-url=https://web.archive.org/web/20011224050613/http://www.gpara.com/news/01/11/news200111020001_et.htm |archive-date=December 24, 2001 }}</ref><ref>{{cite web|url=https://spong.com/article/2420/SNK-issues-cryptic-bankruptcy-statement|title=SNK issues cryptic bankruptcy statement|date=2001-10-29|access-date=2024-05-15|website=Spong}}</ref><ref>{{cite web|url=http://www.gamespot.com/gamespot/stories/news/0,10870,2821015,00.html/|title=SNK Corporation closes its doors|date=2001-10-29|access-date=2023-07-10|last=Seyoon Park|first=Andrew|website=GameSpot|url-status=dead|archive-url=https://web.archive.org/web/20011102031404/http://www.gamespot.com/gamespot/stories/news/0,10870,2821015,00.html/ |archive-date=2001-11-02 }}</ref><ref>[https://www.angelfire.com/ga/engallo/copy_of_evil.html] {{webarchive|url=https://web.archive.org/web/20190806093925/https://www.angelfire.com/ga/engallo/copy_of_evil.html|date=August 6, 2019}}</ref> 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 (company)|Eolith]], which produced ''The King of Fighters'' franchise between 2001 and [[The King of Fighters 2002|2002]], and [[Mega Enterprise]], which produced ''[[Metal Slug 4]]''.<ref name="GameSpotHistory" />