Vice news portal files for bankruptcy in the United States

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Vice reported that creditors – Fortress Investment Group, Soros Fund Management and Monroe Capital – must pay about US$ 225 million via credit to buy the company. ) in the United States. The newspaper adhered to Chapter 11, which allows the debtor to maintain operations and postpone payment deadlines, while seeking to remedy financial debts. Vice said lenders – Fortress Investment Group, Soros Fund Management and Monroe Capital – will have to pay about $225 million via credit to buy the company and assume Vice’s financial responsibilities. Share on WhatsApp Share on Telegram According to the BBC, the youth-focused newspaper said it would continue to operate through the bankruptcy process and added that it “expects to emerge as a financially healthy and stronger company in two to three months”. To try to settle the debts, the entrepreneurs responsible for Vice considered going public, but the idea was not completed. Thus, last month, the company announced several layoffs to try to cut costs. According to the BBC, Vice’s creditors have approved $20 million in funding to keep the company going through bankruptcy proceedings. The news portal was created in 1994 by Shane Smith, Gavin McInnes and Suroosh Alvi.

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