Village Roadshow files for Chapter 11 bankruptcy in Delaware

Village Roadshow Entertainment Group, known for films like "The Matrix" and "Joker," has filed for Chapter 11 bankruptcy in Delaware. The company reported $223.8 million in secured notes and $163.1 million in senior secured debt. The bankruptcy follows a costly legal dispute with Warner Bros. over "The Matrix Resurrections." Village Roadshow claims the arbitration has led to over $18 million in unpaid legal fees and damaged its long-standing partnership with Warner Bros. The company has faced challenges from the pandemic and the Hollywood writers' strike, which affected film production. Founded in 1997, Village Roadshow has produced over 100 films and sold a controlling interest in 2017.