Helios and Matheson, the parent company of the popular movie
subscription service, said that it had a service outage on
Thursday because it couldn’t afford to pay for movie tickets. The
company borrowed $5 million in cash Friday to pay its merchant and
fulfillment processors, according to a regulatory filing.
Helios and Matheson missed a payment to one of its fulfillment
processors, and that contractor temporarily refused to process
payments for MoviePass.