Minnillo & Jenkins, CO. LPA
Call 513-723-1600
For A No-Pressure, Free Consultation

Postproduction sound company files for Chapter 11 bankruptcy

Chapter 11 bankruptcy presents businesses in Ohio and elsewhere with a unique opportunity to rebalance their assets and reorganize their debts. Like other types of bankruptcy, Chapter 11 also allows businesses the chance for a fresh start. However, filing for Chapter 11 can be costly and should be carefully considered.

Recently, a company called Todd-Soundelux, previously known as CSS Studios, filed for Chapter 11 bankruptcy in order to allow the company to undergo business reorganization while it arranges for the liquidation of assets. The postproduction sound company sets audio tracks to dozens of popular movies and television shows, including the movie “Divergent” and the hit television series, “Game of Thrones.” Todd-Soundelux was also recently nominated for an Oscar for its sound work on the movie “Lone Survivor.”

However, despite these successes, the company filed for Chapter 11 due to a “significant decline in revenue,” according a written statement. Because of its substantial amount of business debt, the post-production company was forced to file for bankruptcy but wished for its doors to remain open and to keep its highly-regarded staff, which include a seven-time Oscar nominee and a 20-time Oscar nominee. 

Many Ohio businesses, both small and large, have been affected by the struggling economy. From the film industry to the retail industry, multitudes of businesses have either had to file for bankruptcy or have seriously considered doing so in the hopes of a fresh start.

If you are a business owner considering filing for bankruptcy, then the consultation of an attorney can help you understand your legal options and recognize whether bankruptcy is the right solution for you.

Source: 

The Hollywood Reporter, "Todd-Soundelux files for Chapter 11," Carolyn Giardina, May 21, 2014  

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact us right now for a free bankruptcy consultation

NACBA - National Association of Consumer Bankruptcy Attorneys

Proud Member NACBA

We are proud members of the NACBA, a national organization dedicated to serving the rights of consumer debtors. Read More

Super Lawyers

Jenkins Named Super Lawyer!

Founding partner, Christian A. Jenkins, was selected by his peers and the media as a Super Lawyer. Read More

Cincinnati Office
2712 Observatory Avenue
Cincinnati, OH 45208

Phone: 513-723-1600
Cincinnati Law Office Map

Cincinnati Office
792 Eastgate South Dr
Suite 150
Cincinnati, OH 45245

Phone: 513-685-0612
Cincinnati Law Office Map

Fairfield Office
447 Nilles Rd
Suite 9
Fairfield, OH 45014

Phone: 513-795-0995
Fairfield Law Office Map

Covington Office
526 Philadelphia St.
Covington, KY 41011

Phone: 513-795-0995
Map & Directions