TVT Records Filing for Bankruptcy, Fired Most Employees

AllHipHop is reporting that they've been informed that TVT Records is filing for Chapter 11 bankruptcy later this week and has fired most of the staff.

Pitbull recently attacked TVT's founder and president Steven Gottlieb and Lil Jon had his issues but this is serious bad news for a label that was top of the indie heap.

Related ProHipHop Coverage:
The Orchard Wins Bankruptcy Auction for TVT Records
TVT Records Bankruptcy: NY Times Bits, Trent Reznor Happy, Full Story Unlikely To Emerge
TVT Records Bankruptcy: Steve Gottlieb Talks to Billboard