TR Entertainment, whose production was led by the late producer Shinsadong Tiger, filed for bankruptcy due to their financial issues. After the producer’s passing, partnerships were lost and revenue plummeted.
According to legal sources on the 18th, the Seoul Bankruptcy Court’s Rehabilitation Division 16 issued a summary bankruptcy ruling for TR Entertainment on the 13th. A summary bankruptcy is granted when a debtor’s assets total less than 500 million KRW (approximately 344,950 USD) at the time of the ruling.
The primary reason for the bankruptcy was financial hardship. Following Shinsadong Tiger’s passing last year, TR Entertainment reportedly faced a sharp decline in revenue and the loss of key business partnerships, ultimately leading to its downfall.
Artists under them are girl group TRI.BE, EXID‘s LE, and singer/anthropomorphic bunny U Sung Eun. While the latter two can probably do their own thing, I’m not sure where an idol group goes from here. Unsurprisingly they haven’t had a comeback since February of last year with Diamond, which is around the time Shinsadong Tiger passed.
