Creative Loafing Files Chapter 11

September 29th, 2008 by Melanie Lasoff Levs 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.

  1. 2 Responses to “Creative Loafing Files Chapter 11”

  2. By Aldo on Sep 30, 2008

    This is a really sad day for independent journalism. I read CL while I lived in Tampa and now in Atlanta. Reorganizations can go either way, so I hope they pull through this one.

  3. By Grayson D. on Oct 4, 2008

    I wouldn’t waste a tear over this situation. CL was driven into the ground by its owner, Ben Eason. You can read the real story here:
    http://www.atlantamagazine.com/blogs/blog_post.aspx?id=25296&blogid=262

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