FazzNoth Posted March 30, 2022 Share Posted March 30, 2022 Just one business day after announcing its sudden end — surprising over 200 employees and failing to meet payroll Friday — the Black News Channel now has filed for Chapter 11 bankruptcy. The Tallahassee-based outlet, which served Black and other underserved communities, said between 200 and 999 creditors are owed money and listed $10 million to $50 million in liabilities, according to documents filed in the Northern District of Florida Bankruptcy Court. Some of the creditors that are owed the largest amount of money include The Associated Press, $105,682; CNN, $123,366; CBS News, $96,012 and Comcast, $77,739. The Tallahassee-based outlet, which served Black and other underserved communities, said between 200 and 999 creditors are owed money and listed $10 million to $50 million in liabilities, according to documents filed in the Northern District of Florida Bankruptcy Court. Some of the creditors that are owed the largest amount of money include The Associated Press, $105,682; CNN, $123,366; CBS News, $96,012 and Comcast, $77,739. Initial coverage of closure: 'It's a sad day': Tallahassee-based Black News Channel ceases operations, airs last show According to an employee who asked to remain anonymous, staff received an email Thursday that their last three weeks of pay would be delayed. "This enraged many of my coworkers and many of them refused to even go into the office (Friday)," that person wrote in an email to the Democrat. The next day, the ceasing of operations was officially announced in a mass email to the network's staff just before 3 p.m. "It’s with a broken heart that I am letting you all know that, effective immediately, BNC will cease live production and file for bankruptcy," CEO Princell Hair wrote to the over 200 employees. "We are saddened and disappointed by this reality and recognize the stress that this puts on you and your families." A press release published by the organization Tuesday said they "processed and funded payroll on Monday." But an employee told the Democrat that he most of his colleagues have received partial payment but "are still owed 1 week's worth of pay" as of Wednesday afternoon: "I feel for the talented journalists, editors, designers, writers and producers who are suddenly out of jobs." https://news.yahoo.com/tallahassee-based-black-news-channel-192344150.html Link to comment Share on other sites More sharing options...
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