An Atlanta-based company that has operated touring exhibitions such as “Bodies Revealed” and “Titanic: the Artifact Exhibition” said Tuesday it has filed for Chapter 11 bankruptcy protection.
Premier Exhibitions said it plans to continue operating “without interruption as management focuses on developing and executing a comprehensive corporate restructuring plan.”
In a press release, the company said it is seeking bankruptcy court approval to pay workers and honor tickets bought by customers as well as agreements with museum partners.
The company said it “intends to create a restructuring plan that should allow Premier to emerge as a stronger business. Further, as part of its restructuring efforts, the company will continue to assess the productivity of all assets, review additional cost-cutting initiatives and explore strategic alternatives to maximize the value of the business.”
Premier made its filing in U.S. Bankruptcy Court in Jacksonville, Fla. Chapter 11 filings typically enable insolvent companies to continue operating while negotiating creditor payments under a judge’s supervision.
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