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Bloomberg: Penthouse Owner FriendFinder Networks Seeks Bankruptcy

Date: Sep 17, 2013 @ 07:00 AM
Filed Under: Bankruptcy

Bloomberg reported FriendFinder Networks Inc., the owner of Penthouse magazine, sought bankruptcy protection in Delaware after reporting losses in seven consecutive years to 2012.

According to the report, the Florida-based company listed assets of less than $10 million and liabilities of as much as $1 billion in the Chapter 11 filing in Wilmington, Delaware.

Bloomberg reports that FriendFinder was working with advisers and lenders to refinance the long-term debt, Chief Executive Officer Anthony Previte said in the Aug. 15 statement.

To read the full Bloomberg report, click here.

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