Famous Late Producer’s Agency Reportedly Files For Bankruptcy After His Passing
The agency TR Entertainment, where the late Shinsadong Tiger served as the chief producer, has declared bankruptcy.
According to the music industry on the 18th of March, the Seoul Bankruptcy Court’s 16th Division ruled on the 13th to declare TR Entertainment’s simplified bankruptcy. Simplified bankruptcy applies when a debtor’s assets are valued at 500 million won [around $344,388] or less.
TR Entertainment was established in June 2020, with the late Shinsadong Tiger leading its production. The agency was home to the group TRI.BE, singer Yoo Sung Eun, and EXID’s member LE.
Industry insiders speculate that after Shinsadong Tiger’s passing, investment in the company halted, revenue declined, and ongoing financial struggles eventually led to bankruptcy.
Meanwhile, the late Shinsadong Tiger passed away in February last year.
Source: (A)
