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Consumer Law

Former Ebony and Jet publisher files for bankruptcy

The Johnson Publishing Company, once one of the most venerable black businesses in the country as it chronicled the uplift, achievements and tragedies of African-American life, has filed for bankruptcy.

While the Tuesday filing in U.S. Bankruptcy Court in Chicago calls for a court-supervised sale of assets, it does not have a direct impact on Ebony and Jet magazines, which were sold by the company in 2016. But, industry observers say, it does speak loudly to how far the company has fallen since the 2005 death of its founder and patriarch John H. Johnson.

Read the source article at AJC.com

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