Shinmai was one of the more successful titles for IMS outside of Haifuri and DAL. It’s terrible news for people that enjoy shameless ecchi series that IMS is gone. The titles they worked on weren’t the greatest in terms of animation quality, but the series that they animated almost always had tons of heart. I feel bad for the people that haven’t been paid, and hope that they eventually get what’s owed to them.
An S3 for Shinmai has always been a high hurdle due to the H-content being directly tied to the plot of the remaining novels. Thankfully IMS isn’t part of the production committee for Shinmai. In the event the production committee wants to continue the anime, they could just move it to a different studio.
*Update*
I spoke with Yoshihiro Watanabe last night, and he said that there won’t be another season of Shinmai from IMS, but he believes that it’s possible if Shinmai gets moved to another studio. So those that are still hoping for an S3, hope is still alive.