Penthouse Magazine Publisher Files Bankruptcy a Third Time

Penthouse Global Media Inc., an offshoot of the iconic adult entertainment brand that began with Bob Guccione’s Penthouse Magazine in 1965, is taking the business on a third trip through bankruptcy.

A Chapter 11 filing in California court Jan. 11 kicks off another restructuring for the empire that grew out of a U.K. men’s magazine born in the counterculture of the 1960s. The brand’s current, Los Angeles-based owner is run by Kelly Holland, a woman and self-describedpolitical progressive, who bought the name in 2016, saying she wanted to remove any misogynistic content and expand licensing. In an L.A. Times ...