Waiting for the Ax to Fall on Employees of the JRC

JRC-owned publications in Connecticut include the New Haven Register, the Torrington Register Citizen, the Middletown Press and Connecticut Magazine…

Bidder For Journal Register Co. Will Decide Which Employees To Retain, Letter Says

February 19, 2013|By LUTHER TURMELLE, New Haven Register

The sole bidder in the Chapter 11 bankruptcy auction of the Journal Register Co. will decide which of the company’s employees it wants to retain as the sale of the company moves forward.

A letter has been sent to all of the company’s employees – explaining that when 21st CMH Acquisition Co. completes its acquisition of JRC, it will be up to the new owner which of JRC’s existing employees it wants to hire. The completion of the sale is expected to occur on or about April 17. 21st CMH Acquisition is a subsidiary of Alden Global Capital LLC, which is the owner of JRC.

Bleak atmosphere for employees to say the least.

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 90 other followers

%d bloggers like this: