CareerBuilder + Monster Files for Bankruptcy, Plans Asset Sale

CareerBuilder + Monster has filed for Chapter 11 bankruptcy and entered into multiple asset sale agreements.

• Company will sell its core job board to JobGet, Monster Media to Valnet and government services unit to Valsoft, while continuing operations during a court-supervised process
  • All three buyers are serving as “stalking horse” bidders
• Workforce reductions are being implemented across US operations as part of a broader restructuring effort
• CareerBuilder + Monster is also evaluating strategic alternatives for its international business units
• Blue Torch Capital is expected to provide up to $20m in debtor-in-possession financing, giving the company working capital to sustain operations ...