What, No Bailout For Muzak?

Muzak, the punch-line of a company, that’s famous for piping in mind-numbing easy listening music to corporate settings everywhere has filed for bankruptcy:

AP: The company had heavy debt load, and it filed to try to refinance some of its debt. Its total debt is between $100-million (U.S.) and $500-million and it has assets of less than $50,000, Muzak said in a court filing.

Fort Mill, S.C.-based Muzak filed for court protection in the U.S. Bankruptcy Court in the District of Delaware in Wilmington. The company expects to continue to operate as is. A statement said it has “sufficient means” to support itself through a bankruptcy reorganization.

Surely there’s some money in the stimulus for them, right? After all, there employees probably work hard. And is it their fault if the market has done in a totally different direction.

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