Musicland's listing of assets and liabilities in its bankruptcy (see 'Musicland Files Bankruptcy') puts the company at over $114 million in negative net worth, the net of around $371 million in assets and approximately $485 million in debts.  The listing of debts shows more of the impact on the anime industry, and on Ingram Book Company, which supplied the company with its manga. 

The listing breaks out the debt to Navarre (see 'Musicland To Close a Third of Its Stores'), which the company had reported at $12.8 million in total, among its various divisions.  FUNimation, which is primarily an anime company, is owed over $3 million.  Ventura Distribution, which distributes Viz titles, among numerous others, is owed $5.8 million.  Other anime companies listed among the unsecured trade creditors are ADV, at $2.3 million, Media Blasters at around $1.8 million, and Geneon at around $1.6 million.

No obvious toy or game suppliers are among the largest trade creditors listed. 

The money owed Ingram for manga is secured, but it's a big number, at $10.5 million.  That number will presumably be reduced by the returns currently being shipped back from the stores.  Debt to most of the biggest studios and record companies is also secured; secured trade debt totals over $186 million.

Banks and other senior secured creditors are owed nearly $52 million.  A default under Musicland's $300 million credit agreement in December, along with a failed effort to raise additional equity and convert secured trade debt to equity, precipitated the bankruptcy filing.