DISTRESSED DAILY: Muzak Owner Fast-Forwards Through Chapter 22

Mood Media Corp. made quick work of its most recenttrip through bankruptcy. That’s good news for the company and, by extension, the U.S. court system currently swamped with contentious cases.

You’ve probably encountered Mood Media without realizing it -- it acquired Muzak Holdings in 2011 and provide the background music that flows through stores like Target and Whole Foods. Despite its leading position in that market, the company’s debt load, the Covid-19 pandemic and the changing nature of retail squeezed the business, according to court papers. Its Chapter 11 filing in Texas on Thursday was its second since 2017. ...