Bankrupt Matthews Signs Deal to Sell Operations
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Matthews Studio Equipment Group of Chatsworth, which filed for bankruptcy in April, announced that it has signed an asset purchase agreement with Hollywood Rental Production Services LLC, which will buy Matthews’ Hollywood Rentals, HDI and other operations for $17 million.
Hollywood Rentals rents lighting and grip equipment to the entertainment production industry. Other subsidiaries sell supplies and equipment used in entertainment production and production of live theater.
The transaction is a sale of assets, with Hollywood Rental Production Services assuming only specified liabilities. The buyer’s affiliates are Raleigh Enterprises, Jules & Associates Inc. and CDM Interactive Inc.
The transaction is subject to customary closing conditions.
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