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Connecticut Journal Register Is Bankrupt Again, Pension Costs Partly to Blame
Reuters
Sept. 5, 2012 "Journal Register said print advertising has dropped 19 percent since 2009 and that it represents more than half of total revenue. Additionally the New York-based company is saddled with too much debt stemming in part from pensions. A retirement plan trust with a $3.2 million pension-related claim is the company's second-largest unsecured creditor, trailing only the State of Connecticut, according to the bankruptcy petition." MORE >> |
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