In fall 2014, an investment group and management team led by then CEO, Bill Lee, formed Our Alchemy LLC. Throughout its first year, Alchemy rolled out a comprehensive strategy of acquisitions including films, businesses and broad distribution agreements. The execution of this strategy proved to have an adverse impact on the financial health of the business. By the end of 2015 Alchemy had become financially distressed and ownership recruited a new executive team.
During 2016, Alchemy conducted extensive efforts to optimize performance, recapitalize the business, and thoroughly explored and pursued its strategic alternatives. Unfortunately, the company’s financial viability could not be salvaged. As such, Alchemy has elected to pursue an orderly liquidation under Chapter 7 of the Bankruptcy Code in the State of Delaware, and has released its entire staff.