Village Roadshow blames its troubles on a fall-out with Warner Bros and a failed move into independent film production.

The company attributed its red ink to its protracted battle with Warner Bros. over the release of "The Matrix Resurrections" and a push into independent production. Village Roadshow said a potential sale last year collapsed because of uncertainty surrounding the dispute.

The company filed for bankruptcy protection Monday in Delaware, adding that there was a stalking horse bidder for its assets.