Privately-held Source Home Entertainment and seven affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 14-11553. The Company, which manufactures front-end retail checkout displays and previously wholesale distributed books, periodicals and other printed material, is represented by Pauline K. Morgan of Young Conaway Stargatt & Taylor. According to documents filed with the Court, “The continuing fundamental technological shift away from traditional consumption of print media towards online magazines and e-book readers, as well as the continuing overhang of the economic downturn, created a difficult operating environment for distributors of print media. The Debtors, like many wholesalers, have attempted to cope with the substantial reduction in retail print consumption while running on narrow profit margins resulting from intense competition for retailer contracts.” Source Entertainment indicated total assets greater than $100 million in its Chapter 11 petition.
About Linzee Brown
Linzee Brown is the minority owner and President of New Generation Research, Inc. and has been with the firm since 2002. Linzee is responsible for the overall strategic direction and production of all of New Generation Research’s offerings including Bankruptcy Week, BankruptcyData.com, the Business Bankruptcy Filing Data service, The Bankruptcy Yearbook & Almanac, The Distressed Company Alert and The Turnaround Letter. Prior to joining New Generation Research, Linzee served as Vice President of Direct Marketing for ISM (Boston), a mid-sized strategic marketing company and prior to that he served as a Vice President for Harte Hanks Direct Marketing, one of the country’s largest direct marketing firms.