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The Source Emerges From Bankruptcy Posted by Administrator at Monday, October 15th, 2007 at 1:30AM :: Email this article :: Print this article The latest www.BallerStatus.com update indicates that The Source magazine is ready to rebound from financial disaster. They re-emerged from bankruptcy last week and according to a press release, The Source essentially erases all of the sins of the previous management team. Those sins included over $30 million of debts, more than 60 lawsuits and countless other liabilities. Here's the optimistic outlook from Chairman of the Board Jeffrey Scott: "With the conclusion of the bankruptcy process, The Source is now well-positioned financially and poised for growth." Time will tell if the picture is as rosey as the one they're painting right now. Read 526 times:: |
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