Ailing supermarket chain Niko Niko Do Co. filed for court protection Tuesday with liabilities of 97.5 billion yen under the fast-track Civil Corporate Rehabilitation Law.
The Kumamoto-based retailer said it took the legal step, together with two subsidiaries, at the Kumamoto District Court after it failed to win financial support from its creditor banks.
It has 130 billion yen in group liabilities, Niko Niko Do said.