TNA

TNA Reportedly May Be Forced To File For Bankruptcy

http://uproxx.com/prowrestling/tna-sale-rumors-lawsuit-billy-corgan-wwe-dixie-carter/ Source: Uproxx.com

It certainly looks like things in TNA are coming to a head in the very near future. Piling on top of the company’s already myriad troubles, it was revealed recently that the company also owes American Express roughly a quarter of a million dollars for travel expenses on their corporate account, still owe money to a former DVD distributor from 11 years ago, and might only not have filed for bankruptcy already for the simple and silly reason that Dixie Carter doesn’t want to look bad so soon after delivering an “everything is fine” message to the TNA roster before the most recent set of Impact tapings.

One way or the other, it seems as if bankruptcy protection might be the only way out for Carter, and ironically, one of the only ways TNA could survive. If TNA is forced to file for Chapter 7 bankruptcy and sell off assets to pay creditors, that would be the end of the promotion. However, if they can file for Chapter 11 bankruptcy, that would entail working out deals with their creditors for eventual payment, and might actually allow TNA to continue existing. Of course, they’d still have to find revenue streams eventually, but it would buy them some more time.

Anyway, the company has also reserved a location and dates for taping new episodes of Impact at Universal Studios in January! So, assuming they don’t implode in the next two months and somehow secure funding to actually pay talent and record episodes, which are assumptions we’re not particularly comfortable in making, they could at least have a televised product for four more months in 2017!

As always, more on the situation as it develops.

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