Scour Files for Chapter 11

In a devastating blow to the digital music scene, Scour, Inc., known for its MP3 search and Scour Exchange software, has filed for Chapter 11 of the Bankruptcy Code. According to a press release issued today, "Scour filed its voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Central District of California in Los Angeles. The filing automatically stays all pending litigation against the Company." The move comes after the company laid off 52 employees last month.

Scour President Dan Rodrigues has said the move was made to keep the company alive despite high-profile lawsuits that have scared away investors. A company restructuring will take place to evaluate the best possible to route to ensure Scour's success.

Scour will not be removing its MP3 search or file sharing services, however. "Our millions of loyal users worldwide can rest assured that we will continue to offer all our services," wrote Rodrigues in the press release.

For more information on this unfortunate turn of events, read the announcement or visit Scour.com.