Citing mounting vendor debt and declining revenue, Tiger Oak Media—the publisher of more than 30 regional and bridal magazines around the country—has filed for Chapter 11 bankruptcy protection, according to documents filed in U.S. Bankruptcy Court in Minnesota on Monday. The 26-year-old company, which employs 86 staffers across offices in seven states, reported less than $50,000 in assets and between $1 million and $10 million owed to more than 200 different creditors, including printers, event spaces, consultants and other vendors. A list of the 20 largest unsecured claims tops more than $3 million, though most of these are listed as disputed. CEO Craig Bednar, who founded Tiger Oak in 1992 with the launch of Minnesota Bride magazine, said operations will carry on as usual while the company attempts to use Chapter 11 protection to restructure its debts and lower costs, and that its portfolio of titles—which also includes Seattle magazine, Seattle Business, Wisconsin Bride and California Wedding Day, among numerous others—will continue to publish both in print and online. “Our intention is to give Tiger Oak Media a fresh start and overcome the financial concerns that have unfortunately persisted for the past couple of years,” said Bednar in a statement the company provided to Folio:. In the statement, the company primarily blamed a decline in print advertising for the delays in past due vendor payments that led to this week's bankruptcy petition, saying the company has... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2019-10-10 14:55:27 UTC ]
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Citing mounting vendor debt and declining revenue, Tiger Oak Media—the publisher of more than 30 regional and bridal magazines around the country—has filed for Chapter 11 bankruptcy protection, according to documents filed in U.S. Bankruptcy Court in Minnesota on Monday. The 26-year-old... Continue reading at Folio Magazine
[ Folio Magazine | 2019-10-10 14:55:27 UTC ]
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Vice Media is filing for Chapter 11 bankruptcy protection, the latest digital media company to falter after a meteoric rise Continue reading at ABC News
[ ABC News | 2023-05-15 11:47:06 UTC ]
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A failed attempt to shift the magazine and book publisher's business to an e-commerce model has led F+W to sell both its books division, which has revenues of $22 million, and It's communities group, which had sales of almost $68 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-03-12 00:00:00 UTC ]
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Citing mismanagement and mistakes in its focus on e-commerce, the enthusiast-content company that created the Digital Book World and Writer's Digest lines, has a hearing today (March 12) in court. The post US Publisher F+W Media Has Hearing Today in Chapter 11 Protection Filing appeared first on... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-03-12 00:00:00 UTC ]
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Summit Business Media has joined the ranks of publishers seeking to reorganize and slash debt through a voluntary Chapter 11 bankruptcy. Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-26 00:00:00 UTC ]
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After weeks of credible speculation and reporting, LSC Communications announced clarity around its reorganization plans, which includes filing for Chapter 11 bankruptcy with the Southern District of New York. The company was left with few option after accumulating at least $893 million in... Continue reading at Folio Magazine
[ Folio Magazine | 2020-04-13 15:00:01 UTC ]
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LSC Communications, one of the country’s largest printers and its largest book printer, has filed for Chapter 11 bankruptcy. The company said it expects to operate normally as it works its way through the restructuring process. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-04-13 04:00:00 UTC ]
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Miami Herald and Kansas City Star publisher has suffered as readers give up traditional subscriptions and get news onlineThe publisher of the Miami Herald, the Kansas City Star and dozens of other newspapers across the country is filing for bankruptcy protection. Related: Controversy rages over... Continue reading at The Guardian
[ The Guardian | 2020-02-13 14:36:40 UTC ]
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Dexter, Mich.-based printer Thomson-Shore filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of Michigan Southern Division earlier this week. If things go according to plan, its assets will be sold to the CJK Group. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-03-28 00:00:00 UTC ]
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Medallion Press, which was formed in 2003 as a mass market publisher before branching out into other media markets, filed for Chapter 7 bankruptcy October 18. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-10-29 00:00:00 UTC ]
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Cengage Learning has filed for Chapter 11 bankruptcy protection as part of a pre-arranged... Continue reading at The Bookseller
[ The Bookseller | 2013-07-03 00:00:00 UTC ]
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News Publishing Co., parent corporation of the Rome News-Tribune, Calhoun Times, Walker County Messenger, Catoosa County News, Cedartown Standard and Rockmart Journal, has filed a petition for Chapter 11 reorganization. Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-01-03 00:00:00 UTC ]
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Miamisburg, Ohio-based NewPage, one of the largest makers of magazine-quality paper, today Continue reading at Folio Magazine
[ Folio Magazine | 2011-09-08 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Wed, 16/02/2011 - 12:30 Borders US has filed for Chapter 11 bankruptcy, blaming a decrease in consumer spending, a lack of liquidity and ongoing discussions with publishers. The widely expected move will mean Borders will try to restructure its... Continue reading at The Bookseller
[ The Bookseller | 2011-02-16 00:00:00 UTC ]
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One of the country's best known independent bookstores plans to use the bankruptcy process to become a smaller, modern, financially sustainable business. It is in the process of closing three of its seven locations. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-10-17 04:00:00 UTC ]
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Digital publisher and owner of Vice News and Vice TV was once valued at $6bn but has agreed sale for $225mVice, the once high-flying media startup that reached a peak valuation of nearly $6bn (£5bn), has filed for bankruptcy protection in the US as the digital publisher engineers a cut-price... Continue reading at The Guardian
[ The Guardian | 2023-05-15 09:23:50 UTC ]
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Rescue deal for publisher would wipe out existing shareholders, including James MurdochHow Vice and BuzzFeed fell to earthVice Media is nearing a deal to be bought out of bankruptcy by senior lenders in a process that will wipe out existing shareholders including James Murdoch.The Wall Street... Continue reading at The Guardian
[ The Guardian | 2023-05-05 16:21:38 UTC ]
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Plan comes amid waves of media layoffs and closures, including shuttering of BuzzFeed NewsVice, the global news publisher and TV company that was once valued at nearly $6bn (£5bn), is reportedly close to filing for bankruptcy.The company, whose assets include Vice News, Motherboard, Refinery29... Continue reading at The Guardian
[ The Guardian | 2023-05-02 14:10:53 UTC ]
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Weeks after issuing an earnings that report that revealed the company lost $295 million last year, publication printer LSC Communications is preparing to file for Chapter 11 bankruptcy, Bloomberg reports, citing "people with knowledge of the plans." The news comes less than a year after the... Continue reading at Folio Magazine
[ Folio Magazine | 2020-03-25 18:34:08 UTC ]
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Peak Media Properties, a new company owned by Terence O’Toole’s private investment vehicle Macanta Investments, LLC, launched on Monday to house 20 former F+W Media crafts, design and fine arts titles. F+W’s former Artist’s Network and Crafts communities, which includes Artists Magazine, The... Continue reading at Folio Magazine
[ Folio Magazine | 2019-07-30 19:32:49 UTC ]
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