Black News Channel Files for Bankruptcy With Up to $50 Million in Debt
which shut down operations on Friday, just two years after making a splashy debut — has filed for Chapter 11 bankruptcy in Florida. In its Monday filing, the Tallahassee-based network listed $10 million-$50 million in liabilities, and estimated between 200 and 999 creditors are owed money.“They filed for bankruptcy faster than they paid their employees the money they’re owed,” one former employee told TheWrap on Tuesday.