Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11

Point.360 Chapter 11 Petition Filed

Point.360 filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Central District of California, case number 17-22432. The Company, which integrated media management services, is represented by Lewis R. Landau of Lewis R. Landau, Attorney at Law. According to a corporate release, the Company intends to use the filing to reorganize its capital structure and gain access to liquidity, reduce costs and liabilities, optimize its operations and locations to meet customer demands and create the most value for stakeholders. Point.360 notes, "The Company is considering all possible options for maximizing stakeholder value, including further consolidation of facilities. The Company believes that the restructuring will allow it to become more competitive in today's post production market. It is also reviewing investment options with existing stakeholders and third parties." Haig S. Bagerdjian, the Company's chairman, president and C.E.O., states, "We believe the restructuring is a positive step for the future of the Company and we are committed to providing our customers quality post production services."

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