Faaez Samadi
Apr 1, 2019

Sizmek files for bankruptcy

Ad tech platform’s plight another sign of fierce competition in digital advertising market dominated by big tech players.

(Photo: Paul Zimmerman/Getty Images/AFP)

Programmatic buy-side platform Sizmek has filed for voluntary Chapter 11 bankruptcy in the US, saying it is seeking access to investment capital to keep the company going.

According to a release, Sizmek had been in “extended discussions” with stakeholders to tackle the company’s “over-leveraged balance sheet”, but Sizmek’s primary lender took control of its accounts and cut off access to capital.

“As a result of this action, Sizmek's board of directors...

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