Penthouse manager FriendFinder files for case of bankruptcy. The pany, which sought to bine online community and love, claimed it have hit a deal with noteholders which minimize its financial obligation by $300 million if approved by the U.S. bankruptcy proceeding judge in Delaware.
(Reuters) – Maybe sexual intercourse doesn’t provide that better to be honest.
FriendFinder sites Inc FFNT.PK , author of Penthouse magazine and various adult-entertainment website, recorded for part 11 case of bankruptcy on Tuesday.
The pany, which desired to bine social network and gender, mentioned it have hit a package with noteholders may lessen its financial obligation by $300 million if licensed by the U.S. personal bankruptcy trial in Delaware.
Beneath the prepare, one band of noteholders takes property belonging to the love recreation business, which traces the beginnings to your later Penthouse manager Bob Guccione. As it is characteristic in case of bankruptcy, investors might be kept with anything.
Control of the pany would head to Andrew Conru and Lars Mapstead, two noteholders just who offered several networks to FriendFinder in 2007.
Through a system of 1000s of internet, FriendFinder produces real time video, boards, and photography and video clip submitting. Additionally it looked to touch the provides power to of social networks with website like adultfriendfinder., which presented relaxed sex, and bigchurch., which intended for religious connectivity. (more…)