11:33 AM EDT, 07/01/2024 (MT Newswires) -- Chicken Soup for the Soul Entertainment ( CSSE ) filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware on Friday, according to a notice on the court's website.

The company listed assets and liabilities of at least $500 million each, according to court papers.

The firm plans to use its bankruptcy to sell some of its business units and restructure others, it said.

A Chicken Soup spokesperson declined MT Newswires' request to comment beyond the court filings.

Shares of the company fell 43% in recent Monday trading.

Price: 0.11, Change: -0.08, Percent Change: -41.75