ICv2 reports that Central Park Media has filed for Chapter 7 bankruptcy, citing liabilities of more than $1.2 million.

The firm apparently cut staff in 2006 following the bankruptcy of Musicland, and have been sinking ever since. The current economic crisis has only exacerbated their troubles.

Central Park Media helped distribute anime and manga to the U.S. in the early 1990s, helping spark off a trend of Eastern-style art that influenced creators like X-Men artist Joe Madureira and others to give mainstream comics a makeover.

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