With the debts piling up and creditors more and more seeking legal remedies, Dixie Carter is reportedly considering filing for bankruptcy.
On a recent Wrestling Observer Radio, Dave Meltzer mentioned that Carter and her team are looking into filing for bankruptcy to get out from under their debt burden.
They’re probably gonna end up filing for bankruptcy. Then what happens I don’t know. But if they file for bankruptcy, the big creditors seem to be The Fight Network and Billy [Corgan] and Aroluxe. So as far as who gets what... I think the idea is if they file for the bankruptcy they absolve the debt.
But Dixie... the whole thing is, Dixie is still trying to figure out a way - this is why it hasn't been sold - to, I don't know if it's to stay in control but the whole thing is, she doesn't want to look bad publicly.
Setting aside how absurd it is for Dixie to think there’s any way to save her reputation at this point, the information Meltzer has from the multiple people he said he talked to at TNA on Monday doesn’t specify the type of bankruptcy Carter plans to pursue. That is crucial to “then what happens”, as a Chapter 7 bankruptcy means the company’s assets are sold to pay the creditors - and likely means the end of TNA. Chapter 11 would involve negotiating new terms with those who are owed money, and could allow the company to move forward under the same or new ownership.
Meanwhile, a separate report from PWInsider indicates TNA is definitely planning on existing past the end of 2016. Jan. 4 - 10, 2017 are supposedly reserved on Universal Studios calendar for Impact Wrestling and One Night Only pay-per-view (PPV) content to be filmed on the backlot in Orlando.
There are no details about the tapings on TNA’s website, but that also hasn’t been updated with information about tomorrow night’s episode of Impact, either, and probably shouldn’t be taken of a sign of anything.
Keep working on that plan to not “look bad publicly”, Dixie.