Thompson Publishing Holdings Co has filed for Chapter 11 bankruptcy, according to court filings. The company has assets between $10 million and $50 million and liabilities estimated between $100 million and $500 million.
(Reuters) – Thompson Publishing Holding Co filed for Chapter 11 bankruptcy on Tuesday, according to court filings.
The Washington D.C. based professional publisher and its six affiliates plan to enter into an agreement with stalking horse bidder PNC Bank, the filing said. PNC has agreed to provide debtor in possession financing.
Thompson has assets estimated between $10 million to $50 million and liabilities estimated between $100 million and $500 million.
Avista Capital Partners LP is one of Thompson’s largest equity investors.
Thompson retained Loughlin Meghji & Co as its restructuring adviser and SSG Capital Advisors as its investment banker.
(Reporting by Jennifer Saba. Editing by Robert MacMillan)