Troubled independent distributor Alchemy has filed for chapter 7 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware, Variety reported today. The move had been expected since last week when reports emerged that the company was taking steps to liquidate its assets. In its filing, the company said it has $50 million to $100 million in liabilities and $10 million to $50 million in assets. The petition also said that Alchemy has between 200 and 999 creditors.
