Consumer Law

F+W Media, Citing Debt and Decline, Files For Chapter 11

F+W Media, facing near-term liquidity issues with only about $2.5 million in cash available and $105.2 million in outstanding debt, yesterday filed for protection under Chapter 11 of the federal bankruptcy code, citing in various documents a perfect storm of secular industry decline, poor investments, and even mismanagement.

F+W’s portfolio is diverse, including online education, print and digital books and magazines, subscription video sites, consumer and trade events, and curated e-commerce stores. Its brands include Deer and Deer HuntingSky & TelescopeOld Cars WeeklyPopular WoodworkingCoinsNumismatic News, and various crafting titles, among others. In all, it segments its media into ten categories, including crafts, artist’s network, collectibles, writing, outdoors, sky & telescope, woodworking, family tree, construction, and horticulture.

Read the source article at forbes.com

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