Chicken Soup for the Soul Entertainment (CSSE) filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware on Friday, according to a notice on the court's website.
The company listed assets and liabilities of at least $500 million each, according to court papers.
The firm plans to use its bankruptcy to sell some of its business units and restructure others, it said.
A Chicken Soup spokesperson declined MT Newswires' request to comment beyond the court filings.
Shares of the company fell 43% in recent Monday trading.
Price: 0.11, Change: -0.08, Percent Change: -41.75
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