Johnson Publishing Co. LLC, the former owner of Ebony and Jet magazines, has filed for Chapter 7 liquidation in a federal bankruptcy court in Illinois after unsuccessful attempts to restructure, raise financing, or sell the company.
The Chicago-based company, doing business as Fashion Fair Cosmetics, got caught in a “tidal wave of marketplace changes and business issues which, despite exhaustive efforts, could not be overcome,” Johnson Publishing said in an April 9 new release.
Johnson Publishing sold the iconic black lifestyle magazines in 2016 to investment firm CVG Group, and turned its focus to the cosmetics business. Increasing competition from ...
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