City Desk

Posts Tagged ‘CHAPTER 11’

“By a Baltimore Sun Staff Writer”

Nice story today in the Baltimore Sun about the U of Maryland's plan to put a parking lot and maintenance sheds where there are now 15 acres of woods. Don't bother calling up the writer to give a compliment. They're on a byline strike today. The one-day protest is against Sun owners the Tribune Co., which recently laid off about one-third of their newsroom, mostly editors and bureau chiefs. Tribune's filed for Chapter 11 protection. Union rep Brent Jones tells the Washington Biz Journal injury's insulted because “[t]hese decisions were made without any discussions on alternative cost-saving methods.”

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Hot Off the Presses: Total Disrespect!

Another day, another update about the bankruptcy case filed by Creative Loafing, our parent company.

Apparently a judge in the bankruptcy court will announce tomorrow if Creative Loafing's current owners can continue owning us and the rest of the chain, or if Atalaya, a creditor owed oodles (and a firm that also owns Bennigans), will be granted permission to take over.

Here's the money graph from Creative Loafing-Tampa Bay, the home newspaper of the group that bought us in 2007:

Atalaya wants to foreclose on its $31 million in loans given to finance CL’s 2007 expansion and purchase of Washington City Times and the Chicago Reader. That action was blocked when CL filed for bankruptcy court protection under Chapter 11 of the federal code in September 2008.

"Washington City Times"?

Again, this is from the flagship of the Creative Loafing chain.

"Washington City Times"?

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