Owner of Wash City Paper Files for Bankruptcy
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.
