Japanese veteran Westone Bit Entertainment is apparently on the verge of going bankrupt, according to Game Watch Impress.

Westone is best know for producing Wonder Boy, a title which would spawn the Monster World series and would be re-tooled to create Hudson's Adventure Island franchise.

The Tokyo District Court is currently investigating Westone for debt, and early reports suggest that the studio has entered liquidation, with bankruptcy soon to follow. Westone’s development projects have been stopped and its website closed.

Sega — which currently publishes some of Westone's Wonder Boy games on digital distribution services, including the Wii Virtual Console — has yet to comment on the news.

[via seganerds.com, mcvuk.com]