Creative Loafing Files Chapter 11

September 29th, 2008 Posted in local

Creative Loafing Inc., publisher of Atlanta’s Creative Loafing alternative newsweekly and five others (including Washington, D.C.’s popular City Paper), has filed for bankruptcy protection, CEO Ben Eason announced to company leaders in a conference call today. The company, based in Tampa, Fla., holds more than $40 million in debt, according to a blog item on its website.

“It is a reorganization, not a liquidation. Everybody gets paid,” Eason said during the call, according to the blog.

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