Journal Register Company Files Chapter 22

Journal Register Company and a number of affiliated companies voluntarily filed for chapter 11 bankruptcy protection in New York on Wednesday. The filings are the companies’ second bankruptcy filing in less than four years. According to court filings, the companies are national multi-regional, multi-platform media companies focused on “being a customer-focused provider of local news, sports, business and lifestyle information to its customers on the platforms of the customers’ choice – print and digital.” The bankruptcy cases are intended to be used as a vehicle to complete a “prompt” sale of substantially all of the companies’ assets and they have received a stalking horse credit bid from an affiliate of their current equity holders and secured lenders, Alden Global Distressed Opportunities Master Fund, L.P. and Alden Global Value Recovery Master Fund, L.P.

For more details, please read the declaration of Journal Register Company’s Executive Vice President of Operations, William J. Higginson, which is embedded below.