Update: And another one bites the dust.
A company that owns nearly two dozens newspapers in Atlantic Canada has debts of almost $100 million and is filing for creditor protection.
SaltWire Network made the application in the Supreme Court of Nova Scotia, according to court documents filed on Monday.
The court documents said SaltWire has more than $94 million in debt, with roughly a third of that owing to its lender, Fiera Private Debt Fund.
SaltWire also owes more than $7 million in unpaid HST to the Canada Revenue Agency, while the Chronicle Herald owes $2.6 million for missed pension plan payments, the documents said.
Related: – Laid-Off Journalist Sits On Street Corner With Sign Reading ‘Will Call You Racist For Food’
Darn, they were all huddled up.
Good
Now who pays-off on the kid’s lawsuit?
Man retribution is so painful sometimes.
Dead wood on to the bonfire?
Where will dumb, yet high esteem trust funders go to have a bit of an easy status “career” ?
well l spotted the problem right away.
curious since its a publishing outfit, but it boils down to a spelling mistake or more likely a typo.
‘Fiera Private Debt’
fiera. s.b. ‘a fire’ but it was deemed too obvious.
they dun sluiced thru the 100 mill like a raging forest fire.
and the ‘bag’ that sumbuddy was ‘holding’ the bottom burned out of it and all their coins fell in the river just as they were crossing the bridge financing.
(sumthin’ fer evahbuddy this time lol!)
Couldn’t happen to a nicer bunch of sex workers. They just need to make a lateral move from presstitute into Pornhub and they’ll be fine. (I heard a CBC Radio program about the wonders and great stuff on PornHub and how government punishes sex workers with all their regulations. I gotta get that radio fixed so I can change channels.)
When is CBC’s turn, and maybe they can take CNN with them.
To paraphrase Juthtin, “If we kill them, we win.”
To paraphrase Juthtin, the books will balance themselves.
Less presstitutes receiving canaduh bailouts is a win.
Think I will investigate how to become a “newspaper” for tax purposes, avoid remitting taxes and declare bankruptcy. the CRA justs seems to shrug its shoulders. I assume “$2.6 million for missed pension plan payments” is CPP. canaduh taxpayers are scammed a further $9,600,000
Perhaps it is time for all taxpayers to avoid filing their annual remittances.
Remittances for cpp are monthly.
Fewer…
One of Saltwire’s publications is called The Casket. How prophetic.
First they came for the typesetters.
Another comment vaporized. No reason given. Seems to happen more and more.
I live in NS, nobody under 65 reads the Chronically Horrid for good reason. Now even they won’t have to.
re: deadspin – why buy the name and the liability?
As for SaltWire, I think it was their creditors that filed, not SaltWire…