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Daily Freeman parent company declares bankruptcy

Sep 06, 2012 12:02 am
The Daily Freeman is reporting its parent company, the Journal Register Company, is seeking Chapter 11 bankruptcy protection, the second time the firm has done so since 2008. The company will seek to implement a prompt sale. In a letter, Chief Executive Officer John Paton stated the bankruptcy filing is voluntary and normal business operations are expected to take place through the sale, which is expected to occur in approximately 90 days. Paton said while the firm remains committed to and has made progress in its transition to digital operations, a combination of declining print revenue and legacy costs have impeded that transformation. Read the full story in the Daily Freeman.
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