LOS ANGELES, CA – Jill Kelly Productions, long rumored to have financial difficulties, has called it quits after a pay dispute prompted its namesake to file for federal bankruptcy protection.Owing more than $3 million and having only between $1.5 million to $3 million with which to pay its approximately 85 creditors, the San Fernando Valley porn company known for its well-produced and plot based videos featuring a line-up of popular performers filed Chapter 11 in order to protect its property and library of more than 250 videos from foreclosure and seizure.

According to Chief Executive Philip Starr, the video production company has been losing money for two years due to poor management decisions. Starr also claims that Jill Kelly Productions has been the focus of a New York federal grand jury inquiry, as well. No further information about either subject was provided.

Starr purchased Jill Kelly Productions a month ago from its namesake, Adrianne D. Moore, and had hoped to improve its fortune.