MoviePass’ Parent Firm Has Filed For A Chapter 7 Bankruptcy

Posted by at 3:14 pm on January 29, 2020

MoviePass is officially dead as Helios and Matheson Analytics, which owns the now-defunct cinema ticket subscription service, has filed for Chapter 7 bankruptcy protection.

The company disclosed the move in an SEC filing this week. Chapter 7 of the bankruptcy code dissolves an entity, whose assets are then sold off to repay creditors. Helios and Matheson listed its total assets at $396.5 million and total debts $276.8 million in its bankruptcy filing.

The bankruptcy filing comes after MoviePass notified remaining subscribers in September that it would be shutting down indefinitely. Helios and Matheson also owns Moviefone with those trademarks valued at $4.38 million.

Helios and Matheson, on top of a few pending lawsuits, is still being investigated by the SEC, the FTC, and attorneys general for New York and California.

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