WAN-IFRA

Shaping the Future of the Newspaper

Date

Thu - 24.05.2012


Philadelphia Newspapers files complaint for unpaid debt

Philadelphia Newspapers files complaint for unpaid debt

Philadelphia Newspapers has filed a complaint against Review Publishing as part of its bankruptcy filing for unpaid debt of US$530,000 for printing services, The Bulletin reported Sunday.

A 2003 agreement has seen that Philadelphia Newspapers print and distribute Review Publishing papers the Philadelphia Weekly, South Philly Review, Southwest Philly Review, and Atlantic City Weekly. However, according to the claim, the company has not been paid since the agreement was renewed in May.

The company says it is owed $48,759 for March, $190,516 for May, $201,671 for June, and $89,981 for July, plus interest for sums unpaid after more than 60 days.

"Philadelphia Newspapers has made demands upon Review for payment but Review refused and (continues) to refuse to make payment," the complaint states.

As Philadelphia Newspaper's bankruptcy proceeding continued last week, the company received relief in the form of an agreement with its creditors for a $15 million loan to keep its newspapers operating.

Author

Leah McBride Mensching

Date

2009-09-07 15:20

Shaping the Future of the Newspaper


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