First Henninger Media and now Roland House. The Arlington, U.S.-based post-production facility founded by Fritz Roland in 1984 filed for Chapter 11 bankruptcy protection on August 18, a little over a year after fellow Arlington post-house Henninger was obliged to make the same decision.
Chapter 11 offers a company a much-needed reprieve from creditors while it reorganizes. It worked for Henninger, which was back on stable footing as of April. Roland House hopes to follow suit by the end of the year.
Roland House declined to discuss the reasons behind its filing, but it’s likely that external factors – such as more companies keeping post work in-house – played some role.
Vince Forcier, VP and chief technology officer for Roland House, says the post-house is in the process of formulating a plan, which tentatively focuses on downsizing real estate and refinancing debt. Meanwhile, client services are continuing as before. He adds that staffing is expected to stay at about 45.