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+-- Thread: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor (/showthread.php?tid=7347138)
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - jeffcon4 - 03-18-2019
(03-18-2019, 01:12 PM)Philip1231 Wrote: So did anyone else get the "Notice of Chapter 11 Bankruptcy Case" letter for the F+W media bankruptcy?
I am trying to figure out if its just routinely sent to all magazine subscribers or if its due to PWW owing me $50 for a "Tips and Tricks" article that I submitted and they accepted.
Not sure how serious you are about this, but just to set some expectations - i think there are 4 kinds of creditors in a bankruptcy, the governmental agencies for payroll taxes, sales taxes and that kind of thing, debtor in possession creditors (the guys that provide financing while the company goes through its' reorganization), secured creditors who have lent F+W money where F+W would have pledged assets as collateral for the loans, and the last group, the unsecured creditors. You can probably guess the pecking order for who gets cash...
Admiral will certainly have more complete information (most likely more correct info too) but the unsecured creditors usually split the pot that's left after the first two get theirs. Typically there is little to nothing left. I think someone already mentioned debtor in possession financing and more often than not, they are the ones that come out of a ch 11 whole, most others do not. it's possible F+W might arrange to set aside some money for your kind of thing, but not likely.
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - Downwindtracker2 - 03-18-2019
Pension funds should be #2, But that's never going to happen with the governments we have.
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - Mike Brady - 03-19-2019
(03-18-2019, 05:06 PM)Admiral Wrote: Very easy, here's the Proof of Claim form:
https://www.uscourts.gov/sites/default/files/form_b_410_16.pdf
You can get the case number and name information from the link in the original thread here on that topic.
Is Pop Wood still publishing during their "difficulties"? I did not renew after seeing the last issues that finished up 2018. I also think I was the first to post about the change in the magazine, but that is kind of like stumbling on a body while out for a morning walk.
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - mvflaim - 03-19-2019
(03-19-2019, 08:57 AM)Mike Brady Wrote: Is Pop Wood still publishing during their "difficulties"? I did not renew after seeing the last issues that finished up 2018. I also think I was the first to post about the change in the magazine, but that is kind of like stumbling on a body while out for a morning walk.
I live in Cincy. I'll drive by in a couple of days to see if there are cars still in the parking lot. If it's empty, then we know the answer.
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - Handplanesandmore - 03-19-2019
If their site is down, then it is a sure sign of closure.
I remember people complaining about AMC which kept its magazine (such as woodturning design) subscription page alive even when it had decided to close business. Their authors had not been paid for several issues back when they were still accepting new subscribers.
Simon
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - mvflaim - 03-19-2019
(03-19-2019, 07:10 PM)Handplanesandmore Wrote: If their site is down, then it is a sure sign of closure.
I remember people complaining about AMC which kept its magazine (such as woodturning design) subscription page alive even when it had decided to close business. Their authors had not been paid for several issues back when they were still accepting new subscribers.
Simon
They have a new blog posting today but it could be smoke and mirrors.
I have the last issue of Home Furniture from the Taunton Press back in the 1990's where the editor says "Farewell to our Readers", then in the back of the mag, there's a subscription tear off sheet. Apparently the print industry has no shame.
Personally, I say screw Pop Wood. Bring back Woodwork. Now that was a great magazine that F+W killed.
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - Handplanesandmore - 03-19-2019
(03-19-2019, 07:45 PM)mvflaim Wrote: I have the last issue of Home Furniture from the Taunton Press back in the 1990's where the editor says "Farewell to our Readers", then in the back of the mag, there's a subscription tear off sheet.
Done at the instruction of the bean counter?
Simon
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - AHill - 03-20-2019
They have a new blog post dated 20 March 2019, so somebody must be getting paid. That said, one of F+W's biggest creditors was the company which manages all their web content.
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - ZachDillinger - 03-20-2019
I also got one and I assumed it is because I have regularly contributed to them and may be owed something.
RE: Popular Woodworking: Notice of Chapter 11 Bankruptcy: I'm a Creditor - Arlin Eastman - 03-20-2019
Just thinking here
Since they did not pay you for the article could you sell it to someone else?? Like Woodsmith??
Thinking that PWW really does not own it until they pay for it so you should be able to.