Creative Loafing Inc. — which owns alternative weekly newspapers in Chicago, Washington, Tampa, Charlotte and Sarasota, as well as Atlanta — today filed for bankruptcy protection. Prompting the move was a debt load of more than $40 million.
The company will ask federal bankruptcy Judge Caryl Delano to stay any attempt by creditors to liquidate the assets or take control of the company.
“We’re doing the right things,” Eason said. “This will give us a fresh start. It is a reorganization, not a liquidation. Everybody gets paid.”
They need to stop loafing around, and get busy making money. How about a name change to Creative Hustling?
In this blogger's humble opinion, it should stop cutting trees and go strictly online.
I partially blame Thomas Wheatley. OK, I'm just saying that because he endorsed DM as the best Decatur blog, and links to DM far more often. That's petty, isn't it? ;-) Perhaps the red head can work for Nick at an increasingly popular blog after he gets laid off at CL.
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