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Relativity Media Lays Off 75 Employees, as Chapter 11 Bankruptcy Looms

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11 29.07.2015 Инфо

Embattled Relativity Media issued layoff notices to 75 of its 350 employees Wednesday, another sign that the debt-laden entertainment company is on the verge of a bankruptcy filing. Word came to worker after CEO Ryan Kavanaugh’s repeated failure to find new investors or loans to plug a yawning $320 million debt obligation. Those are relatively new operations that are said to put a particularly onerous drag on the bottom line of the Beverly Hills-based company.

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