Trail-blazing youth brand Vice Media has formally filed for Chapter 11 bankruptcy protection. The move is part of a plan to engineer a sale to a group of lenders, according to Reuters. As expected,…
has formally filed for Chapter 11 bankruptcy protection.As expected, the company’s biggest creditor, Fortress Investment Group, will make up part of the new ownership.
Alongside Soros Fund Management and Monroe Capital, Fortress will invest around $225M as a credit bid for almost all of the company’s assets, Reuters reported. The trio will also assume significant liabilities at closing.That came after a tumultuous start to the year for the company, which saw
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