Source: Official Press ReleaseAllarco Entertainment 2008 Inc. and Allarco Entertainment Limited Partnership (Allarco) announced today, after consideration of all available alternatives, that it is initiating a Court-supervised restructuring process under the Companies' Creditors Arrangement Act ("CCAA") in order to facilitate a restructuring and refinancing of its business operations...Allarco will continue to operate under CCAA protection...
Allarco launched Super Channel in 2007 and previously operated under CCAA from June, 2009 to August, 2010 because it had difficulty gaining carriage on many TV providers.
I found an article in the Edmonton Journal where Allarco is based.
Company president Malcolm Knox said Friday their revenue has been hit over the last 18 months by subscribers dropping Super Channel...While lots of people still sign up, he said the $15 to $18 monthly price charged by many of the cable and satellite firms that offer Super Channel is too high....“We have been working with all of (the providers) to get us repriced to 10 bucks … We have found with those that have reduced us, the retention rate is higher.”
“It’s always a challenge, but we’re looking ahead to having a strong programming lineup in the fall, working at this in the summer and coming out the other side. A lot of companies in our industry have used this process.”