Conspiracy theorist Alex Jones takes the witness stand to testify at the Sandy Hook defamation damages trial at Connecticut Superior Court in Waterbury, Conn., Sept. 22, 2022. Jones asked the court permission on Wednesday, June 5, 2024, to convert his …
“The Debtor does not anticipate that a resolution may be reached with the other parties in interest sufficient to confirm a chapter 11 plan of reorganization,” Jones’ filing said. “Given that there is no reasonable prospect of a successful reorganization, remaining in chapter 11 would incur additional administrative expenses without concomitant benefit to the Debtor’s estate.”Christopher Mattei, a lawyer for the families, said in a statement that “Alex Jones has hurt so many people.
Jones’ lawyers have said that the company’s case also appeared to be headed toward a liquidation, or it could be withdrawn. Jones already has moved to sell some of his personal assets to pay creditors, including his Texas ranch worth around $2.8 million. Infowars’ parent company, Free Speech Systems, which employs 44 people, had nearly $4 million in cash on-hand at the end of April. The business made nearly $3.2 million in April, including from selling the dietary supplements, clothing and other items that Jones promotes on his show, while listing $1.9 million in expenses.
Jones has said on his show that even if Free Speech Systems and Infowars are sold off, he could resume his broadcasts in some other fashion.