Bankers agree to look away as Johnston Press struggles with debt pile
Posted
by
Peter Kirwan
on 30 June 2009
at 12:29
Tags: Journalism
As summer gets into its stride, the burdens weighing upon indebted media companies grow heavier.
Yesterday, Johnston Press announced the postponement of a test of its banking covenants from tomorrow until the end of August.
In plain language, this suggests that Johnston Press is no longer generating sufficient profit to keep its bankers happy — something the company [...]
Tags: Journalism
