Electronic dance music promoter SFX Entertainment is considering filing for bankruptcy, Forbes.com reported yesterday. The potential restructuring comes after founder and CEO Robert Sillerman strung investors along a 10-month takeover process that included multiple failed bids, in addition to a flurry of capital infusions to keep the money losing company afloat. For SFX, which listed its shares on the Nasdaq at a valuation exceeding $1 billion in Oct. 2013, a filing would cap the company’s stunning unraveling. Initially, investors flocked to SFX’s shares in hopes that Sillerman would be able to roll-up the fragmented EDM industry and create a live entertainment powerhouse similar an effort in the 1990s where he spent $1.2 billion buying regional music promoters before selling the venture (also called SFX) to Clear Channel for $3.3 billion in 2000.
