Manga Library Z (also known as Manga Toshokan Z) announced that they will be ending their service on November 26. The site was founded by mangaka Ken Akamatsu (best known for Love Hina and Negima!) and deserved as a place to publish hard-to-find manga titles to read for free. The site stayed afloat thanks to an advertising revenue business model.
Akamatsu claimed the reason for the closure was issues with credit card companies and a termination of all payment services. The option to rebuild was on the table but, ultimately, the team decided to shut down instead; however, the shutdown may not be the definite end as discussions on transitioning to a non-profit organization and/or a crowdfunding model are currently being held.
The site launched its beta test back in 2010 and received an English beta version in 2011.
Source: AnimeNewsNetwork
