Penton Files For Chapter 11

Trade magazine publisher Penton Media will file for a prepackaged bankruptcy in the next few days, the company announced. It will eliminate $270 million of company debt through the Chapter 11 filing and claims that day-to-day operations will not be affected.

A Penton spokesperson told minonline that there will be no layoffs, title closures or other changes due to the bankruptcy, which is great.

More on MJD: B-To-B Publisher Penton Cuts Pay, Institutes Furloughs
Penton Closes Two Titles