After many rounds of restructuring and refinancing, on Sunday F+W Media filed papers in a Delaware Bankruptcy Court, seeking protection while they sell off all their businesses “to maximize the value of their estates for the benefit of all their stakeholders.” The company says it was “facing near-term liquidity issues” and “determined that the only viable alternative, which would allow it to survive while providing relief from its obligations, was to pursue a sale transaction within the context of a chapter 11 filing.” They have obtained a proposed $8 million in debtor-in-possession financing from a small subset of their existing […]
