Source Interlink Files for Bankruptcy

In what was reported today via Bloomberg, Source Interlink Co.  The company known to many and not to many.  You may not know their name but we are sure you have read their publications, like Super Street, Import Tuner, Modified Magazine, Lowrider and many, many more filed Chapter 11 yesterday.  Here is a snit bit of what was ran on Bloomberg today.

Source: Bloomberg

Written By: Dawn McCarty
April 28 (Bloomberg) — Source Interlink Cos., the publisher of Motor Trend, Hot Rod and Street Chopper magazines controlled by billionaire Ron Burkle’s Yucaipa Cos., sought bankruptcy protection as it moves to become a private company.

The company, which also distributes newspapers and other publications, listed debt of $1.9 billion and assets of $2.4 billion as of April 24 in Chapter 11 documents filed yesterday in U.S. Bankruptcy Court in Wilmington, Delaware.   For more on this story, read the full story here. For a full list of publications from SIC, click here.