After yesterday’s story about a parent-company bankruptcy, Dan Rattiner of Dan’s Papers sent out an e-mail message today “to our loyal fans."
The e-mail details the debt problem of parent company Brown Publishing and says the paper will continue to published. “Brown’s bankruptcy is not about shutting down and selling off the pieces,” Rattiner wrote. “In fact, everything will be proceeding as normal. Instead, this action is about shedding much of this long-term bank loan. Though Brown (and Dan’s Papers) are profitable, they are not profitable enough to both pay back the loan and continue along with business as usual. As a result, much of the loan is now to be forgiven.
In the photo above (by Doug Kuntz), Susan Galardi, managing editor, Dan Rattiner, founder and executive editor, and Kelly Shelley, art director, go over corrections at the paper’s Bridgehampton office.
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