Bankruptcy doesn't mean it's dead. It just means it has no money to pay off its debts and doesn't see enough money coming in to cover any of it.
I'm not really sure how bankruptcy works in Japan but there is a chance they could still operate while under bankruptcy although the more likely scenario is the company gets sold off in parts. Hopefully Atlus survives intact and doesn't get its IP just sold off.
I'm just intentionally dramatizing things. As long as the devs and IP stay together, I'm fine with whatever ultimately happens.
Battlefields are so grey. I need color. Looots of color! Like Rio Rainbow Gate!
You can't say something like this and then not watch Rio! Rainbow Gate for everyone's amusement.