Posts Tagged ‘bankruptcy’

Donald Trump Talks D.C. Hotels, Washington Post, Hair

Donald Trump has big plans for the Old Post Office. Huge.
"This can really be one of the great hotels of the world," Trump said this morning during a real estate panel with daughter Ivanka Trump. But the Trump take on the Old Post Office won't merely be great. At different points during the hour-long talk [...]

Who Will Own City Paper? We Just Found Out

UPDATE 1628:Chicago Reader enters Atalaya Era after Creative Loafing loses its last bid in bankruptcy court (Chicago Reader)
UPDATE 1535: Creative Loafing chain sold to biggest creditor for $5 million (Atlanta Journal-Constitution)
UPDATE 1459: Washington City Paper Now Owned by Atalaya Capital (DCist)
Atalaya outbids Eason, assumes control of Creative Loafing (Creative Loafing Tampa)
UPDATE 1332: Hedge Fund Atalaya [...]

Morning Roundup: The Morning After Edition

Sex Day! We blogged it. Some of my faves: Cherkis'  trio of prostitute posts. Darrow's Lorton pics. Riggs on the bike/porn shop. Godfrey! "I felt like Dad at the dinner table passing out money to his daughters." McKenna on one of the weirdest houses in D.C. "For people with boobs, the hook-up potential is at [...]

Mike Riggs for CEO

Our wacky company. Jesus, our wacky company. Today was the day a judge in Florida was due to decide how best to conduct an equity auction next month that'll presumably end our company's nearly yearlong journey through bankruptcy. She kind of punted.
But: Talk about burying the lede! Following the ruling, Creative Loafing CEO Ben Eason [...]

Washington City Paper Parent Co. Wins Bankruptcy Ruling

A federal judge in Tampa has just ruled in favor of Creative Loafing Inc. CEO Ben Eason in a bankruptcy struggle with the company's main creditor, Atalaya Capital Management. Holder of $31 million in Creative Loafing debt, Atalaya was seeking to gain control of the company. The court denied Atalaya's motions and directed the two [...]

Our Morning Roundup: Chickens Coming Home To Roost

In Shaw writes on chickens in the city: "As I remember, I thought there were laws on the books that in one way or another say no to chickens. Just to make sure I checked The City Chicken, which according to it's chicken law page says, 'Washington D.C. Housing chickens here violates health laws [...]

Update: SIX Flagging

Dan Snyder's juxtanothing theme park chain, Six Flags, is back in the news. For all the wrong reasons.
Snyder's sub-Mensa-esque brainchild, the network of stand-alone kiddie hair salons known as Six Flags Rollercoaster Cuts, opened its first outlet in West Hartford, Ct., and started hawking costly coif makeovers with dumbass names — The Glammy, Zoink, Big [...]

Rodriguez: Washington City Paper Will Survive

That's Rick Rodriguez, for all you morons who don't recognize the leading lights in the world of journalism. Rick Rodriguez is a journalism professor at Arizona State University and former executive editor of the Sacramento Bee.
Such credentials have landed Rodriguez a spot on the roster of experts discussing the future–or lack thereof–for newspapers on [...]

Creative Loafing Bankruptcy Enters “Day 2″

Last Monday, Creative Loafing, the company that owns Washington City Paper and five other papers, announced that it had filed for Chapter 11 bankruptcy. At the time, Creative Loafing CEO Ben Eason said, Chapter 11 was a "natural place for the Company to go to accomplish an orderly reorganization of our finances."
This move was occasioned [...]

Eason Responds, Sort Of

So I guess I could have just gone to the big man himself. Earlier today I posted about the confusing, and concerning, documents filed by Creative Loafing, our parent company, in their application for Chapter 11 bankruptcy protection. Well, blogger Rob Capriccioso, aka Big Head Rob, took it upon himself to forward my post to [...]

Fun With Bankruptcy, Nunc Pro Tunc and an $185,000 Retainer

Perusing the scanned documents from our parent company's Chapter 11 case, I'm finding a lot of lingo I don't totally understand (PDFs: Emergency Motion to Use Cash Collateral, Emergency Motion for Nunc Pro Tunc Authorization). But hey, here's one I think I get: Notice of Deficient Filing. It appears that Ben Eason's bankruptcy papers [...]

This morning's Shelf Awareness has a few details from Olsson's Chapter 11 bankruptcy filing. The local bookstore chain claims $929,428 in assets and $1,951,629 in liabilities. The usual reasons are cited for the downturn, but controller Terence McCann expressed confidence about the future of the business in the filing (hence the Chapter 11 claim, not [...]