Just 1 enterprise day after saying its sudden end — surprising over 200 staff and failing to fulfill payroll Friday — the Black News Channel now has submitted for Chapter 11 individual bankruptcy.
The Tallahassee-based mostly outlet, which served Black and other underserved communities, said between 200 and 999 creditors are owed cash and listed $10 million to $50 million in liabilities, according to files filed in the Northern District of Florida Bankruptcy Court.
Some of the creditors that are owed the biggest amount of revenue include The Connected Press, $105,682 CNN, $123,366 CBS News, $96,012 and Comcast, $77,739.
Original coverage of closure:‘It’s a unfortunate day’: Tallahassee-primarily based Black News Channel ceases operations, airs final demonstrate
In accordance to an personnel who asked to remain nameless, workers been given an e mail Thursday that their past a few months of fork out would be delayed.
“This enraged lots of of my coworkers and a lot of of them refused to even go into the place of work (Friday),” that man or woman wrote in an electronic mail to the Democrat.
The next day, the ceasing of functions was formally announced in a mass e-mail to the network’s staff just ahead of 3 p.m.
“It’s with a damaged heart that I am allowing you all know that, efficient promptly, BNC will cease stay output and file for individual bankruptcy,” CEO Princell Hair wrote to the in excess of 200 personnel. “We are saddened and unhappy by this actuality and understand the worry that this places on you and your people.”
Evolution of the Black News Channel:
A push release revealed by the organization Tuesday stated they “processed and funded payroll on Monday.”
But an employee instructed the Democrat that he most of his colleagues have been given partial payment but “are continue to owed 1 week’s really worth of pay back” as of Wednesday afternoon: “I truly feel for the proficient journalists, editors, designers, writers and producers who are quickly out of work opportunities.”
► Ended up you an worker at the Black News Channel and want to share your tale? Electronic mail reporter Christopher Cann at [email protected]
Adhere to @ChrisCannFL on Twitter.
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