Chris Pine and Ben Foster’s next film, The Contractor, has been filed for bankruptcy.
STX Entertainment executives have placed the action thriller into Chapter 11 bankruptcy to protect the feature’s value for its shareholders as its parent company, Eros STX Global Corp, offers to sell the studio to Najafi Companies. , according to The Hollywood Reporter.
A spokesperson for STX explained to Deadline that the filing is a strategic move to help protect their rights to the film.
“This filing, like our previous filing on Greenland 2, is surgical and strategic as we protect our rights while we work towards our closure for strategic alternatives for our business,” they said. “Migration is the entity that now owns the worldwide distribution rights to The Contractor. We have determined that it is necessary to seek receivership to protect the value of this entity for all of our stakeholders.”
In The Contractor, Pine plays a demobilized US Special Forces sergeant named James Harper, who risks everything for his family when he joins a private contract organization. It also stars Kiefer Sutherland, Gillian Jacobs and Eddie Marsan.
The film’s release date remains April 1, but it’s unclear if it will be postponed following the bankruptcy filing.