There was a time when Gainax was one of the most dominant forces in the anime world. The studio behind Gunbuster, FLCL, Gurren Lagann, Panty & Stocking with Garterbelt and Neon Genesis Evangelion was synonymous with taking sci fi anime tropes in wild new directions, but their output slowed dramatically in the last decade and other studios took over. By now, it appears Gainax has taken its last breath.

On May 29, Gainax had applied for bankruptcy through Tokyo District Court. Their application was accepted on June 7, and as of now, after reports of financial struggles since the 90s, Gainax no longer exists.

In 2006, several ex-Gainax staff created Khara, a studio of their own founded by Gainax co-founder and Evangelion director Hideaki Anno, to create the Rebuild of Evangelion movies. Khara sued Gainax for ¥100 million in 2016 for unpaid royalties over Anno's previous works at Gainax, including the original Evangelion series. On top of that, Khara supposedly loaned Gainax ¥100 million in 2014, which they still haven't paid back.

That was just a recent example in Gainax's history of financial mishaps, and is a big contributor to their bankruptcy, according to Gainax themselves, along with mismanagement from executives and former company president Tomohiro Maki, who was fired and arrested after being being found with lewd photos he took of a teenage voice actor he sexually assaulted.

The Gainax trademark has now been transferred to Khara. It's unsure just what this means for the future, but Gainax's reputation as a studio that pushed the boundaries of anime despite being fumbled by greedy execs should be remembered alongside all their classic series.

What do you guys think of this? Which Gainax anime was your favourite? Are you sad to see them go? Leave your thoughts in the comments!