Sun-Times Files for Bankruptcy
Only four months after the Chicago Tribune filing Chapter 11, the owners of the Chicago Sun-Times are also voluntarily filing for Chapter 11 bankruptcy protection. The paper is hoping it can reorganize its operations, settle a tax liability and make itself suitable for sale, reports the paper.
According to Chairman Jeremy Halbreich the filing was a difficult, but essential decision so the company could “re-establish itself as a self-sustaining, profitable operation. That is worth fighting for.”
While
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