Canadian CD, DVD Seller Cinram Files for Chapter 15 Bankruptcy

Struggling to figure out how to sell DVDs and CDs in a download-driven world, Toronto-based movie and music seller Cinram International Inc. has filed for bankruptcy protection while its executives move to sell its operations, Dow Jones DBR Small Cap reported. The company and several affiliates that it controls filed for Chapter 15 protection in U.S. Bankruptcy Court in Wilmington, Del., to block the consequences that it would face when its agreement with its biggest lenders expires on June 30. Read more. (Subscription required.) In a related story, The Globe and Mail reported that, after a comprehensive strategic review that explored multiple options, Toronto-based Cinram has agreed to be purchased by private holding firm Najafi Companies for an undisclosed amount. Read more.