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Chicago Reader Owner Files For Bankruptcy


First Posted: 09-29-08 12:46 PM   |   Updated: 10-30-08 05:12 AM

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Read More: Ben Eason, Chicago Reader, Chicago Reader Bankruptcy, Creative Loafing, Creative Loafing Bankruptcy, Chicago News
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Creative Loafing Inc., the owner of the Chicago Reader, announced Monday that it has filed for Chapter 11 bankruptcy, Washington City Paper, which is also owned by the company, reports.

In a conference call with top company officials, Ben Eason, the company's CEO, said that the step would allow the six papers in the Creative Loafing portfolio to establish a greater online presence while the company reorganizes its operations. [...] "This is all about a fresh start," stated Eason, who hastened to add that the filing entails no liquidation, no layoffs, and "no terrible, terrible things."


Read the entire article here.

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Francis Dashwood
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11:37 PM on 09/29/2008
No.
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stepintothelight
Quis custodiet ipsos custodes?
378 Fans
02:02 PM on 09/29/2008
Am I the only one who saw this coming???
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