Boston Herald, Inc., along with three affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-12883). The Herald’s Petition estimates both its assets and liabilities to be between $10 – $50 million. Although First Day Motions have not yet been filed, the publisher of the Boston Herald, Patrick J. Purcell, announced earlier today that the Herald will be sold via the Chapter 11 process to Gatehouse Media, LLC. No claims and noticing agent has been proposed yet. The cases have been assigned to the Honorable Laurie Selber Silverstein.
Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.