Community Newspapers Files Chapter 11: The Trenton,...
From Times Staff and Wire Reports
Community Newspapers Files Chapter 11: The Trenton, N.J.-based newspaper group, which had expanded aggressively using high-yield junk bonds, said it has been forced to seek protection from creditors under Chapter 11 of federal bankruptcy law. The company, which published three dailies, announced its decision after failing to get enough bondholders to approve a debt restructuring involving $240 million in junk bonds. CNI said its newspaper operating subsidiaries will not file bankruptcy petitions.