According to Hannibal TV, Bischoff and his wife Loree had filed for chapter 11 bankruptcy in Arizona in 2017. Many of Bischoff's business ventures into K-1 and wrestling were performing poorly. Bischoff's TV syndication company went out of business.
Well it’s only a chapter 11, at least. It just allows you to reorganize your business debts. I read the court filing and it appears that their business was solvent so the creditors agreed to accept certain assets and Bischoff retained others, which is good for him.
Reminds me when Billy Corgan was claiming that TNA was insolvent, which the court didn’t agree. If it was, he would have attained every asset.