CST Entertainment Files for Chapter 7

CST Entertainment Inc., the Culver City company that converts black-and-white films and television shows to color videotape, filed for Chapter 7 bankruptcy, the company’s attorney said Tuesday. The attorney declined to disclose the company’s assets, liabilities or list of creditors for the filing made Monday. CST has struggled for several years, despite a plan to cut costs by shifting more than half its production work to India. CST posted a net loss of $700,543, or 3 cents per share, in its first fiscal quarter ended Sept. 30, compared with a loss of $489,777, or 2 cents per share, in the same period a year ago. Revenue was $1.7 million versus $1.1 million a year ago. CST lost $3.5 million in its fiscal year ended June 30. Trading in CST’s common stock was halted on the American Stock Exchange in October.