Earlier this month Medallion Press filed papers in a Northern Illinois Bankruptcy Court for a voluntary Chapter 7 bankruptcy liquidation. The filing says “the company is presently experiencing financial difficulties due, in part, to the difficulties facing the publishing industry.” The publisher’s principal asset is $254,000 in inventory in the warehouse of their distributor Ingram Publisher Services (Medallion had been a Legato/Perseus client), along with $67,000 in cash. The liquidated inventory and cash need to cover an estimated $111,000 in unsecured claims. Filing
