Tuesday, 26 February 2002
Nakamichi Japan Files For Bankruptcy
Citing the ten year economic downturn domestically in Japan, Nakamichi Japan announced on February 19, 2002 that they are filing with the Japanese government for their version of Chapter 11 bankruptcy protection. The parent company that owns Nak, Grande Group, is pledging to sponsor the reorganization and restructuring. Grande is a diversified company owning interests in consumer electronics, gaming and hotels.