The company's financing fell through and it eventually filed for bankruptcy under Chapter 11, and was bought out on January 11, 1991, by Los Angeles-based LIVE Entertainment, a home video and music company, for $27.3 million. LIVE acquired Vestron's extensive (3,000 plus) film library; titles continued to be released under the Vestron name until 1992, with LIVE distributing these releases. The International branches were split up and sold off after the bankruptcy during 1991, the UK branch was sold a year prior to Welsh ITV franchise holder HTV and renamed to First Independent Films.