Turnarounds

Stop the Presses? Star Trib Readers Hope Not
The Minneapolis paper, reflecting the woes of the business, reneges on a $9 million payment to give itself some cash.

The Star Tribune won't be paying its senior creditors their latest quarterly payment of $9 million as way to conserve cash, the Minneapolis newspaper wrote in an article today.

The 141-year-old newspaper's chairman, Christopher Harte, told the article's reporter that the company is negotiating with its lenders and "looking at an incredibly wide range of options but nothing's imminent." The skipped payment to pay down its $432 million debt won't likely affect the company's relationships with vendors or advertisers, Harte said. continue