SFX COULD FILE FOR BANKRUPTCY

The EDM company has been in trouble for some time, but a new report suggests that the firm is considering filing for bankruptcy.

The Forbes article has revealed that the American events giant and Beatport parent company has hired FTI Consulting Inc. to help the company examine its “strategic alternatives”.

The company has racked up sizeable debts since going public in 2013, and has seen its shares plummet by over 60 percent in the last few months.

SFX has commented: “There can be no assurance that the Company will be successful in identifying or implementing, on favorable terms or at all, any financial or strategic alternatives, which may include restructuring the Company’s debt, the issuance of additional equity or debt, or the sale of some or all of the Company’s assets. In order to facilitate its reorganization, the Company may consider utilizing the available protections under the federal bankruptcy laws.”

Via Forbes.