Morris Publishing Group Files For Chapter 11
Morris Publishing Group, owner of 11 daily newspapers mostly in the Southeast, has announced it will file for Chapter 11 bankruptcy within a week.
The company, owner of The Florida Times-Union, The Augusta (Ga.) Chronicle, the Athens (Ga.) Banner-Herald, and the Log Cabin Democrat in Conway, Arkansas, is planning to file a prepackaged plan, hoping to cut its debt by 70 percent.
Morris Publishing Group also owns 28 nondaily papers and a raft of magazines, including Skirt!.
Bankruptcy is not good news for investors, nor is it a good sign for a company, but these things usually don’t affect employees too much.
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