Reuters: Bankruptcy News: Newspaper publisher Journal Register files for bankruptcy again

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Newspaper publisher Journal Register files for bankruptcy again Sep 5th 2012, 17:33 Sept 5 | Wed Sep 5, 2012 1:33pm EDT Sept 5 (Reuters) - Newspaper publisher Journal Register Co filed for bankruptcy protection on Wednesday, less than four years after emerging from its first bankruptcy, as it struggles with declining print advertising revenue and legacy costs. The company, which publishes newspapers such as New Haven Register and the Middletown Press, said it has entered into a stalking horse agreement with an affiliate of Alden Global Capital. Journal Register listed assets and liabilities of between $100 million to $500 million, according to its Chapter 11 petition in the Southern District of New York. Journal Register joins repeat filers such as Twinkie maker Hostess Brands and family-style restaurateur Buffets Inc, which have filed for a "Chapter 22" petition this year. The New York-based company listed Kruger Inc and the State of Connecticut among its largest unsecured creditors. The newspaper industry has been dogged by plummeting advertising revenue and readers who are choosing digital formats over paper and ink. The case is In re: Journal Register Co, et. al., U.S. Bankruptcy Court, Southern District of New York, No:12-13774.

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