DJ Ticketing-Services Company Tix Corp. Files for Bankruptcy
By Dave Sebastian
Ticketing-services provider Tix Corp. said it has filed for bankruptcy after the Covid-19 pandemic led to the closure of its discount-ticket stores in Las Vegas under the Tix4Tonight brand and its online-ticket sales site.
The company on Wednesday said it filed for chapter 11 protection in the U.S. Bankruptcy Court for the District of Nevada. It said it would sell substantially all its assets.
Tix said it seeks to obtain debtor-in-possession financing from any lenders that could help the company operate its business and meet its financial obligations, including the timely payment of employee wages and benefits and lease payments.
The company said it expects normal operations to continue without affecting customers. Tix said it recently reopened three stores since the suspension of operations in March 2020, and that it is operating daily.
Travel and leisure activities have picked up this summer along with the loosening of Covid-19 restrictions. But with the recent spread of the Delta variant, shows are being canceled, mask requirements are returning to casinos and locales, and consumers are reconsidering their travel plans. The reaction to the increased cases isn't as dramatic as last year, but it has caused travel and leisure executives to notice a dip in business.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
August 25, 2021 08:20 ET (12:20 GMT)
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