Character.ai has initiated a voluntary Chapter 11 bankruptcy to pursue a court-supervised sale of substantially all its assets after a year of legal, regulatory, and operational challenges. The board concluded that a Chapter 11 sale offers the best route to maximize value for stakeholders and preserve the platform if a viable bid emerges; if no actionable proposal is received, the platform will be wound down. The company expects the court-supervised sale process to conclude by late November or early December 2026 and frames the filing as a structured effort to stabilize the business and provide potential continuity.
Users can continue to access the platform and its services for now; paid subscriptions remain active and billing is unchanged at present. User data and chats remain governed by the existing Privacy Policy, with standard data security practices maintained, and account deletion or data export remains available through the app or website. The company emphasizes maintaining a safe community experience during the process and directs stakeholders to FAQs, a press release, and court filings administered by Stretto, Inc. for detailed information and support.
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