Simba Analyst Investigates Thompson Publishing's Chapter 11 Filing
PNC Bank agrees to buy substantially all of Thompson Publishing's assets for an undisclosed price. PNC will also provide as much as $3 million to help fund Thompson operations while in bankruptcy.
Online, October 7, 2010 (Newswire.com) - Thompson Publishing Group (Washington), whose publications focus on regulatory compliance advice for professionals, this month filed for Chapter 11 bankruptcy protection as a result of the poor economy and having to compete against more free content available online.
Thompson, which employs 282 people, listed debt between $100 million and $500 million and assets between $10 million and $50 million in Chapter 11 documents filed in U.S. Bankruptcy Court in Wilmington, Del. Six affiliates also filed for bankruptcy.
Read the full article in Simba Information's latest issue of "Professional Content Report": http://www.professionalcontentreport.com/content/thompson-publishing-files-chapter-11.
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