Lee Enterprises Inc., the owner of the St. Louis Post-Dispatch and one of the largest newspaper publishers in the country, announced Friday that it will file for bankruptcy on or about Dec. 12 after efforts to work out an out-of-court refinancing deal with its lenders failed.
In a news release, Lee Enterprises, based in Davenport, Iowa, said that filing a "prepackaged" Chapter 11 bankruptcy plan would allow the company to restructure its debts and exit bankruptcy in sixty days or less.
The publisher said the bankruptcy will have no impact on its business. Vendors, advertisers, subscribers, employees and the company's operations will not be affected.
Read the rest of the article at the Los Angeles Times
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