ˌɔn sˈɛvən dʒˈænjuːˌɛɹi tˈuː θˈaʊzənd ɪlˈɛvən, dʒˈoʊ wˈuː dˈiː əfˈɪʃəli fˈaɪld fɔːɹ bˈæŋkɹʌptsi ænd ɐnˈaʊnst ðætðə kˈʌmpəni wʊd pɹɪpˈɛɹ fɔːɹ "ɐ pɹəsˈiːdʒɚɹ ʌv kˈæpɪɾəl ɹɪˌoːɹɡɐnᵻzˈeɪʃən".
On 7 January 2011, JoWooD officially filed for bankruptcy and announced that the company would prepare for "a procedure of capital reorganization".