Shigeyama Gakubuchi, a frame manufacturer in Nagaoka, Niigata Prefecture, received a bankruptcy commencement order from the Nagaoka Branch. Its liabilities are currently under investigation, and the long-established company was founded in 1963.
The Niigata District Court’s Nagaoka Branch announced that it had issued a bankruptcy commencement order against Shigeyama Gakubuchi. The case is currently being registered, and the total liabilities are under investigation.
The long-established company had manufactured and sold wooden frames for Japanese paintings and prints, earning a strong reputation through its wood-processing and finishing processes.
Changes in how photographs and artworks are viewed as a result of digitalisation, along with a decline in housing starts, are believed to have reduced demand. The company is said to have determined that continuing the business would be difficult.