The Reader's Digest Association, Inc. Files For Chapter 11

Debtor Name:  The Reader's Digest Association, Inc.

Year Filed:  2009

Jurisdiction:  United States Bankruptcy Court / Southern District of New York

Asset Size:  Over 1 Billion, but less than 5 Billion

Case Number:  09-23529

Industry:  Advertising & Marketing, Media

Source:  www.chapter11library.com

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SendTec, Inc. Files For Chapter 11

St. Petersburg, FL-based, SendTec, Inc. filed for chapter 11 bankruptcy protection yesterday at the United States Bankruptcy Court for the Middle District of Florida.  The debtor's petition lists $3.7 million in assets and $17.3 million in debts.  Google, Inc. is listed as the largest unsecured creditor. 

SendTec, Inc. provides direct response marketing and technology services to customers to help market their products and services on the internet.

From the debtor's press release:

SendTec said its core operations are strong and that it has sufficient cash reserves and cash flow from operations to continue business operations as usual during the Chapter 11 process. All of SendTec’s employees will continue and transition to the new company upon approval of the court’s sale of assets.

Paul Soltoff, Chief Executive Officer of SendTec said “SendTec’s core business of providing clients with efficient and effective customer acquisition solutions remains valuable to its Clients. A series of corporate transactions involving SendTec’s parent companies going back to 2004, however, has left SendTec with a large burden of debt apart from operations. These proceedings represent our best option for removing that burden while continuing to serve our clients and run our business. In the interim, it will be business as usual. We anticipate no reduction in staff or services.”

Megacolor Corporation Files For Chapter 11

Megacolor Corporation filed for chapter 11 on Friday at the United States Bankruptcy Court for the Southern District of Florida.  The Pompano Beach, FL debtor's schedules list approximately $3.7 million in assets and $19.6 million in liabilities.

R.H. Donnelley Corporation Files For Chapter 11

R.H. Donnelley Corporation and numerous affiliates filed for chapter 11 bankruptcy protection yesterday at the US Bankruptcy Court for the District of Delaware.  According to the petition in the lead case, the corporation has assets of nearly $11.9 billion and debts of nearly $12.4 billion. 

From the debtor’s website:

“R.H. Donnelley is one of the nation's leading Yellow Pages and online local commercial search companies. The company has more than 4,400 employees operating in 28 states across the United States. Every day, consumers rely on the company's more than 600 directories, online city guides, and search websites to find businesses that provide the services they need. RHD's directories, which have a circulation of approximately 80 million, are marketed under three of the industry's most recognized brands: AT&T Real Yellow Pages in Illinois and Northwest Indiana; Dex® Yellow Pages and EMBARQ Yellow Pages™.”

Download source documents here. 

Crew Creative Advertising, LLC Files For Chapter 11

Crew Creative Advertising, LLC filed for chapter 11 bankruptcy at the U.S. Bankruptcy Court for the Central District of California on May 26, 2009.  The Los Angeles based debtor listed assets and liabilities of less than $10 million on its petition.  The unsecured creditors include Sheppard Mullin, United HealthCare Ins. and GE Capital.

Norwood Promotional Products, Inc. Files For Chapter 11

Norwood Promotional Products, Inc. filed for chapter 11 bankruptcy protection yesterday at the United States Bankruptcy Court in DE.  The debtor is based in Indianapolis.

Norwood is one of the largest suppliers of promotional products in the United States with approximately 2000 employees.  As of December 31, 2008, the book value of the debtor's assets totaled approximately $150.26 million and the liabilities totaled $205.02 million. 

Idearc Inc. Files For Chapter 11

Idearc Inc. filed for chapter 11 bankruptcy today at the United States Bankruptcy Court for the Northern District of Texas.  The debtor's petition lists $1.8 billion in assets and $9.5 billion in debt, approximately $6.6 billion of it secured.

Idearc Inc. manages and delivers print, on-line and wireless publishing and advertising services.  They are represented by Fulbright & Jaworski L.L.P.