Monitronics, Brinks Home Security Operator, Files Bankruptcy (1)

Monitronics International Inc., which operates the Brinks Home Security service, filed for bankruptcy after taking on too much debt and losing too many customers.

The home-monitoring company, which is owned by Ascent Capital Group Inc., listed debt of $1.84 billion in court documents filed in Houston, with plans calling for the company to eliminated $885 million of that amount. The Chapter 11 filing allows the company to stay in business and serve its approximately 900,000 residential and commercial customers while it works out a recovery plan.

Ascent said in a previous regulatory filing that most of the creditors had signed ...