(KTLA) – The company behind hits like “The Matrix” and “Ocean’s Eleven” has filed for bankruptcy, the latest domino to fall in a struggling Hollywood industry.

Village Roadshow Entertainment of West Hollywood, which also worked on “Joker,” filed for Chapter 11 bankruptcy on Monday, the Los Angeles Times reports.

Village Roadshow “blamed its ongoing legal battle with longtime partner Warner Bros. for its collapse,” though it also admitted that “its ambitious push into producing independent films and television programs before the pandemic was unprofitable, exacerbating its financial woes,” the Times reports.

At issue is what some companies claim is the wrongful practice of streaming companies putting big-budget movies on their platforms without giving them a full theatrical release.

Scarlett Johansson’s suit against Disney over the streaming of “Black Widow” is perhaps the most prominent incident, though Village Roadshow claims a similar situation with the sequel “The Matrix Resurrections.”

In this case, Village Roadshow’s newest “Matrix” film underperformed at the box office, which the company blames on Max’s strategy of simultaneously putting the movie out on streaming, according to the Hollywood Reporter.

When the suit over “Resurrections” was filed three years ago, Warner Bros. said in a statement that it was “a frivolous attempt by Village Roadshow to avoid their contractual commitment to participate in the arbitration that we commenced against them last week.”

“We have no doubt that this case will be resolved in our favor,” the statement added.

The case remains active, with a hearing scheduled for April 25, Nexstar’s WJET reported.

At this point, however, it’s unclear if that suit will be completed, as Village Roadshow still owes about $18 million in attorneys’ fees for this lawsuit alone, Variety reports.

“Even if the WB arbitration is resolved, the company believes that it has irreparably decimated the working relationship between WB and the company, which has been the most lucrative nexus for the company’s historic success in the entertainment industry,” Village Roadshow said in a filing.