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Owner of Wash City Paper Files for Bankruptcy

by Borderstan.com September 30, 2008 at 6:54 am 0

Washington Business Journal has the story:

With a $40 million loan default looming, Creative Loafing Inc., the owner of Washington City Paper and a handful of other weeklies across the U.S., sought Chapter 11 bankruptcy protection Monday.

According to a filing with the U.S. Bankruptcy Court’s Middle District of Florida, Tampa, Fla.-based Creative Loafing reported estimated assets of between $10 million and $50 million and liabilities of the same amount.

Read entire story.

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