Are the owners of the SD still in financial difficulties?

Earlier in the year, it was reported that the owners of this board were in financial difficulties.

What is the situation now?

From 8/25/09

From 12/29/09:

(No mention of how well business is going since.)

General searches for Atalaya don’t result in a lot of negative updates. Creative Loafing was purchased and there are not any* reported *stories about upcoming shakeups that I can find.

ETA: IANAAOSFAICL (I am not an admin or speaking for anyone in Creative Loafing)

After buying Creative Loafing, Atalaya still had cash to buy Bennigan’s restaurants, so that’s a good sign.

HEY! Where’s my charter membership card for Bennigan’s?

The real problem, if I remember correctly, was that Creative Loafing was losing money, and the new owners promised to try and fix that. Some were afraid that, to cut costs, they’d shutdown or completely revamp this message board.

I never got the impression that Atalaya were themselves in any financial trouble.

Atalaya assumed ownership of Benningan’s before they acquired Creative Loafing.

Wow, did I do some major misreading there.

(bolded word merely a figment of my myopia)

I don’t think business moves that fast, guys. From Dec. 21:

Elaine Clisham, Director of Targeted Solutions at the American Press Institute and former Sales and Marketing Manager at the Association of Alternative Newsweeklies, is (or was) also on loan to CL as “Field Director.”

So it seems like they’re making definite steps to actually run the newspapers. Also, Atalaya is specifically in the business of depressed businesses. How it’s going right now? It’s impossible to say, as Atalaya is a private firm, and doesn’t report its financials. If any of its properties are publicly held, I haven’t seen it.

I’m not sure of the legalities, but we were talking about Creative Loafing being purchased back in August, and the Bennigan’s announcement was dated October 31.

In any case, it appears that Atalaya has continued acquiring businesses, which suggests to me that it’s doing okay financially.

Oct. 31, of 2008

From the article cited:

Atalaya Capital expects to close on the acquisition on or before October 31, 2008.

Atalaya purchased the assets of Creative Loafing from the U.S. Bankruptcy Court in August of 2009.

:smack:

[Emily Litella] Oh, that’s very different [/Emily Litella]

:smack:

Sorry