A lot of people are being hurt by this turn of events, including printers, employees, contractors, and others who will simply not be paid…
In the first restructuring, the $2.2 billion originally owed was reduced to $525 million. Now, they’re seeking to reduce it to $100 million. To recap: $2.2 billion down to $100 million — a reduction of 95%, or $2.1 billion that won’t be paid to creditors.
Read Folio’s story “Behind RDA’s Chapter 11 Filing” here.
Jay Nelson is the editorial director of PlanetQuark.com, and the editor and publisher of Design Tools Monthly. He’s also the author of the QuarkXPress 8 and QuarkXPress 7 training titles at Lynda.com, as well as the training videos Quark includes in the box with QuarkXPress 7 . In addition, Jay writes regularly for Macworld and Photoshop User magazines and speaks at industry events.