Wednesday, October 1, 2008
News Atlanta Magazine's insight on CL's bankruptcy
Posted by Mara Shalhoup on Wed, Oct 1, 2008 at 6:44 PM
Former CL Senior Writer Steve Fennessy has a lengthy post on his Atlanta Magazine Cityscape blog about our recent Chapter 11 bankruptcy filing.
One of the most interesting bits:
[The filing] could also mean that [Creative Loafing Inc. CEO Ben] Eason has the company taken away from him. I asked if that possibility worried him. “It’s all speculative right now,” he said. “We’ve got 120 days to put a plan together. I think if we put a good plan together, I think the chances of me running the company are excellent.” (As it turns out, one of the major unsecured creditors to the company is Eason himself, who loaned the company $250,000.) Nor is Eason planning to sell the company. “That’s not something I want to do or something I’m interested in doing. As part of this filing, you have to think about what’s in the best interest for everybody. Right now, selling any one of the papers is not in our plans or something we think is in the best interest of the company.”
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