"The Reader" Goes Bankrupt
Creative Loafing Inc., owner of the Chicago Reader and five other weekly U.S. newspapers, sought bankruptcy protection after advertising revenue shrank for its print editions, Bloomberg News reported.
The closely held company listed both debt and assets of $10 million to $50 million each in Chapter 11 documents filed today in U.S. Bankruptcy Court in Tampa, Florida, where it’s based, according to Bloomberg. Creative Loafing took over the Reader last year.
When Floyd Durr pled guilty in April to the sexual assault and murder of 11-year-old Ryan Harris, the book finally seemed closed on one of the most notorious criminal cases here in decades. But much remains uncertain. Including who killed Ryan.
By Steve Bogira
October 20, 2006