Official announcement: Penthouse files bankruptcy

[Penthouse_mike]

Check it out on GFY:

http://www.gofuckyourself.com/showthread.p...threadid=163108 (http://www.gofuckyourself.com/showthread.php?s=&threadid=163108)

[Winetalk.com]

http://reuters.com/financeNewsArticle.jhtm...storyID=3266435 (http://reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=3266435)

is much more informative

[Penthouse_mike]

Originally posted by Serge_Oprano@Aug 12 2003, 02:57 PM
http://reuters.com/financeNewsArticle.jhtm...storyID=3266435 (http://reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=3266435)

is much more informative

Serge, I included that link in my thread

[Timon]

Penthouse has filed for relief under Chapter 11 in New York state.
Many people misunderstand bankruptcy, and conflate it with going out of business. Bankruptcy is a system that allows corporations to get protection from their creditors and to get new financing in order to restructure and grow their business.
Bankruptcy, although it often carries a stigma in most people’s minds, is a system which allows companies to have a fresh start and more fully realize their potential.


"Bankruptcy is a system which allows companies to have a fresh start and more fully realize their potential"

<sarcasm>
Damn, I never looked at it that way :-)
</sarcasm>




Last edited by Timon at Aug 13 2003, 08:08 AM

[sarah_webinc]

you know it is a story when it is being included in the hourly news on BBC radio.