Parent of Nashville's Consolidated Media Systems files Chapter 11

MCSi Inc. (MCSIQ.PK), parent of Nashville-based Consolidated Media Systems, filed for Chapter 11 bankruptcy protection last week amid shareholder lawsuits, an investigation by the Securities and Exchange Commission and management troubles.

The Kettering, Oh.-based audiovisual equipment and services company, which bought Consolidated Media in September 1998, filed for bankruptcy protection in Baltimore, Md., a month after it was removed from trading on Nasdaq. The company now operates as debtor in possession of its eight units and is slated to file a reorganization plan this summer.