MoviePass has come to an official end as the company files for Chapter 7 bankruptcy protection in federal court, 8 years after its founding…
It’s now official. MoviePass is dead. The company has filed Chapter 7 bankruptcy, signaling the final demise of the failed subscription-based movie ticketing service.
MoviePass Declares Bankruptcy, as it Files for Chapter 7 Protection
MoviePass has filed for bankruptcy, entering into Chapter 7, where all of its assets will be dissolved. This marks an unceremonious end as it concedes it cannot find a way forward. (Something that would be at least possible under a Chapter 11, which allows for continued operations and reorganization.)
MoviePass suspended its operations back in September last year. This, after the company lost so much money, it resorted to changing users’ passwords to prevent them from ordering tickets.
When it ceased operation during the fall of last year, its parent company Helios and Matheson Analytics were still trying to find potential buyers. But, that didn’t happen and now, it looks like the subscription-based movie ticketing service is gone for good.