Publisher F+W Media Seeks to Dismiss Bankruptcy With Assets Sold

Niche books and magazine publisher and e-commerce business F+W Media has asked a Delaware bankruptcy judge to dismiss its Chapter 11 case after selling off its assets in June.

The $10.5 million that the publisher realized through separate asset sales will go primarily to repay an $8 million bankruptcy loan by a syndicate of lenders represented by agent Fortress Credit Co. LLC, according to F+W Media’s Aug. 9 motion to dismiss.

What’s left will go to pre-bankruptcy secured lenders—owed about $60 million—and to professionals employed in the bankruptcy case, F+W said. Nothing remains to pay unsecured creditors, it said.

It ...