America’s Test Kitchen Buying Bankrupt Recipe Site Food52

Cooking television show America’s Test Kitchen has agreed to purchase recipe site Food52, which said it was forced to file bankruptcy after its lender unexpectedly swept cash from its bank accounts.

The offer from America’s Test Kitchen is worth $6.5 million and will gives Food52 a path out of Chapter 11 under new ownership. The stalking horse bid is subject to better offers should any materialize in the coming weeks. America’s Test Kitchen’s offer also provides Food52 with immediate access to cash to keep the business afloat as it seeks to complete the sale, according to court documents.

Food52 ...