ICv2 is reporting that TokyoPop will be closing its doors May 31st. This will be a blow to the manga publishing industry. TokyoPop cited recent economic hardships, the Borders’ bankruptcy and Kodansha expanding their relationship with Random Books/DelRey. How this will effect release dates on titles has not yet been determined. Follow the links below for the full article on the closing and the second link to Stu Levy’s statement on TokyoPop’s closing.