YTB International files for Chapter 11 bankruptcy

Online marketing company YTB International Inc. has filed for Chapter 11 bankruptcy protection. In its filing Friday with the U.S. Bankruptcy Court in Southern Illinois, the Wood River-based company listed its assets at $1.31 million and its debts at $7.18 million. “This bankruptcy proceeding will give YTB much-needed protection from creditors and an opportunity to reorganize its affairs," President and CEO Andrew Cauthen said Friday in a statement. The company plans to use the Chapter 11 process to "re-group, reorganize and re-launch," he said. Read more at: http://www.bizjournals.com/stlouis/news/2013/03/05/ytb-international-files-for-chapter-11.html