The Upside Of A Bad Economy

Ken AshfordEconomy & Jobs & DeficitLeave a Comment

Muzak's financial difficulties:

Muzak, the company that put pop, string-filled arrangements of rock songs in your elevator, filed bankruptcy papers Tuesday after it missed a $105 million payment to creditors.

The pipeline of easy listening will continue to flow as Muzak restructures its debt during the Chapter 11 process, the company said.

"Muzak is a solid business with an outstanding customer base, but we are burdened with substantial debt obligations established over a decade ago," Muzak CEO Stephen Villa said.