MoviePass is deader than ever as parent company officially goes bankrupt

In case you thought the saga would remain a smoldering heap of yesterday’s news from here on out, guess again. Helios and Matheson Analytics, the theater subscription service’s parent company, has at last filed for bankruptcy, according to The Wrap. While that may sound like it signals the complete end of all things MoviePass, there’s one interesting wrinkle: the company may owe subscribers a total of more than $1.2 million.

“As a result of filing the Petition, a Chapter 7 trustee will be appointed by the Bankruptcy Court to administer the estate of the and to perform the duties set forth in Section 704 of the Code,” reads a filing with the US Securities and Exchange Commission. That means MoviePass’ assets will all likely be sold off in an attempt to pull together the money it owes customers for unused services, as MoviePass was actively charging users up until it suddenly shut down last September.

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