TR Entertainment, the agency led by late composer Shinsadong Tiger, has officially declared bankruptcy due to financial difficulties.
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.
Founded in 2020, TR Entertainment was home to girl group TRI.BE, EXID’s Elly, and singer Yoo Sung Eun, though their future affiliations remain uncertain.
Shinsadong Tiger was a renowned hitmaker, producing major K-pop hits such as 4Minute’s Hot Issue, Apink’s NoNoNo, T-ara’s Roly-Poly, and EXID’s Up & Down.
However, his business ventures led to financial struggles, accumulating debts of approximately 1.7 billion KRW. In 2017, he filed for corporate rehabilitation, and the following year, the court approved a restructuring plan that required him to repay 70% of his debts over a 10-year period.
SHARE
