More on the Creative Loafing bankruptcy | Bleader

Wednesday, October 1, 2008

More on the Creative Loafing bankruptcy

Posted By on 10.01.08 at 01:18 PM

Here's a roundup of comment and analysis culled by the Association of Alternative Newsweeklies.

Creative Loafing Inc., which owns the Reader, filed for bankruptcy under Chapter 11 Tuesday in Tampa. Here's a brief explanation of Chapter 11, which typically involves the old management continuing to run the company under court supervision, executing a business plan that the court has reason to believe will succeed if the company is allowed to restructure its overwhelming debt load.

UPDATE: A former Creative Loafing staffer filed this story in Atlanta Magazine, which provides a lot of background on the CL saga. 

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