Muzak Successor Mood Media Files For Bankruptcy
Mood Media, the in-store music company that once brought you Muzak had filed for bankruptcy protection, blaming the economic downturn caused by the pandemic.
Mood Media customers include Macy’s, Target, Williams-Sonoma, Whole Foods and Mercedes-Benz.
Now filing for its second Chapter 11 bankruptcy in four years, Mood hopes to reduce more than $700 million in debt by $404 million and says most of its creditors are on board.
Muzak, a brand with recognition so widespread that music lovers once used it to describe bland and mediocre songs. Mood Media dropped the branding soon after it acquired Muzak in 2011.
“Mood Media intends to build on its structure, support and resources to continue serving its clients as they manage through the global COVID-19 pandemic and over the longer-term once the pandemic has passed,” the company said in a written statement.
The filing will be finalized by July 30th, according to the company.