Monitronics Files For Ch. 11 To Cut $885M In Debt

Law360 (July 1, 2019, 2:10 PM EDT) -- Home security company Monitronics International Inc. filed for bankruptcy in Texas on Monday, with a prepackaged plan that aims to cut its $1.84 billion debt load nearly in half through debt-to-equity swaps and other measures.

Monitronics, the operator of Brinks Home Security, filed for bankruptcy in Texas on Monday, in an effort to cut $885 million in debt. (AP) In court filings, Monitronics — which operates Brinks Home Security — said it was driven to bankruptcy by cutthroat competition, a loss of customers and several costly acquisitions that aimed to keep it one step ahead of its rivals but resulted in...

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