Peace Now (headquarters: Shibuya Ward, Tokyo) filed for bankruptcy on March 6th. Its debts are estimated at 400 million yen. Founded in April 2001, the company primarily targets people in their 20s and offers women's brands "Peace Now" and "Black Peace Now," as well as men's brands "Black Peace Now for Men" and "Gadget Glow." The company operated 16 directly managed stores, including the Laforet Harajuku store, and nine franchise stores. Its main brands, Peace Now and Black Peace Now, are representative of the punk and gothic lolita styles. The company enjoyed a dedicated fan base, achieving sales of 1.327 billion yen at its peak in the fiscal year ending November 2008. However, due to the economic downturn, sales fell to 1.13 billion yen in the fiscal year ending November 2011. The company's performance continued to deteriorate, leading to its bankruptcy.