After trying to find a buyer for more than a year, the Canadian-founded company has reportedly brought in a restructuring expert to its board to guide it through bankruptcy procedures.
There is likelihood Vice Media could be broken up and sold in pieces. A previously retained restructuring firm is now suing Vice to recover $1 million, according to the New York Post. Last month, the Wall Street Journal revealed Vice hasn’t paid its bills, including $1 million in debt to various vendors. Recently CEO Nancy Dubuc departed her role, and global president of news & entertainment, left.
At its peak Vice Media was valued at $5.7 billion.
|Lorene Shyba says: