MoviePass Parent Files For Bankruptcy
MoviePass Parent Files For Bankruptcy
DJ MoviePass Parent Files For Bankruptcy
By Micah Maidenberg
The parent company of MoviePass said Wednesday it filed for bankruptcy protection.
Helios and Matheson Analytics Inc. (HMNY), as well as its MoviePass business and another subsidiary, all filed Chapter 7 petitions in the U.S. Bankruptcy Court for the Southern District of New York, according to a securities filing from the company.
MoviePass initially offered cinema fans unlimited visits to theaters for less than $10 a month and gained popularity starting in 2017. The business model proved unsustainable. Last September, MoviePass was shut down and Helios said it was exploring various alternatives.
Helios's market value currently stands at about $7 million, according to FactSet.
The company also said the members of its board offered their resignations upon the bankruptcy filing.
Its current interim chief executive, Parthasarathy Krishnan, and its interim finance chief, Robert Damon, also tendered their resignations, Helios said.
Helios said the resignations of the board members, its interim CEO and interim finance chief were not "the result of any disagreements with the company regarding the company's operations, policies, or practices" but rather due to the company entering Chapter 7 proceedings.
Helios won't have any members on its board once the four members resigned, according to the securities filing.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
January 29, 2020 09:37 ET (14:37 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
DJ MoviePass Parent Files For Bankruptcy
DJ 破產通行證父檔
By Micah Maidenberg
由米卡·梅登貝格
The parent company of MoviePass said Wednesday it filed for bankruptcy protection.
MoviePass 的母公司週三表示，它申請破產保護。
Helios and Matheson Analytics Inc. (HMNY), as well as its MoviePass business and another subsidiary, all filed Chapter 7 petitions in the U.S. Bankruptcy Court for the Southern District of New York, according to a securities filing from the company.
赫利俄斯和勿地臣分析公司（HMNY），以及其 MoviePass 業務和其他子公司，根據該公司的證券備案，全部在美國紐約南區破產法院提交了第 7 章請願書。
MoviePass initially offered cinema fans unlimited visits to theaters for less than $10 a month and gained popularity starting in 2017. The business model proved unsustainable. Last September, MoviePass was shut down and Helios said it was exploring various alternatives.
MoviePass 最初為電影迷提供了每月不到 10 美元的無限次訪問電影院，並從 2017 年開始受歡迎。該商業模式被證明是不可持續的。去年九月, MoviePass 被關閉和赫利俄斯說，它正在探索各種替代品.
Helios's market value currently stands at about $7 million, according to FactSet.
赫利俄斯的市場價值目前處於約 $7 百萬, 根據事實集.
The company also said the members of its board offered their resignations upon the bankruptcy filing.
該公司還表示，其董事會成員在破產申請時提出辭職。
Its current interim chief executive, Parthasarathy Krishnan, and its interim finance chief, Robert Damon, also tendered their resignations, Helios said.
赫利俄斯說，其目前的臨時首席執行官帕薩拉瑟·克里希南及其臨時財務總裁羅伯特·達蒙（Robert Damon）也提出了辭職。
Helios said the resignations of the board members, its interim CEO and interim finance chief were not "the result of any disagreements with the company regarding the company's operations, policies, or practices" but rather due to the company entering Chapter 7 proceedings.
Helios 表示，董事會成員辭職，其臨時首席執行官和臨時財務主管並不是「與公司關於公司的運營，政策或實踐的任何分歧的結果」，而是由於該公司進入第 7 章程序。
Helios won't have any members on its board once the four members resigned, according to the securities filing.
赫利俄斯不會有任何成員在其董事會一旦四名成員辭職, 根據證券備案.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
寫信給米卡·梅登貝格：micah.maidenberg@wsj.com
(END) Dow Jones Newswires
(完) 道瓊斯通訊社
January 29, 2020 09:37 ET (14:37 GMT)
二零二零年一月二十九日（格林威治標準時間 14:37）
Copyright (c) 2020 Dow Jones & Company, Inc.
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