Village Roadshow Pictures, the production company behind movies like The Matrix and Joker, has filed for bankruptcy following a legal battle.

The company attributed its red ink to its protracted battle with Warner Bros. over the release of "The Matrix Resurrections" and a push into independent production. Village Roadshow said a potential sale last year collapsed because of uncertainty surrounding the dispute.

U.S. film producer Village Roadshow Entertainment Group is “open to all bids” for a film library that includes rights to well-known movies like The Matrix, Ocean’s Eleven, and The Joker, a company attorney said on Tuesday at a court hearing a day after filing for bankruptcy.