Joel R. Glucksman
Partner
201-896-7095 jglucksman@sh-law.comKey Contacts
Back
Newspapers have been the kings of information distribution for hundreds of years, but now that “ink and paper” media are being forced by the information revolution to transition to online publishing, many are struggling to remain above water.
One of the most recent newspapers that hit hard times is the Free Lance-Star Publishing Co., which has filed for protection under Chapter 11 of the U.S. bankruptcy law, according to Bloomberg. The company owns two radio stations and websites, in addition to Virginia’s Free Lance-Star newspaper. Their bankruptcy filing listed assets and debt of more than $50 million.
Free Lance-Star’s financial troubles began after it secured a loan from BB&T Corp to build a printing plant seven years ago. The loan was purchased by Sandton this past June, which proceeded to inform the company it would be best to file for bankruptcy protection.
“Sandton also indicated that it desired to be the entity that obtained the company’s assets,” Free Lance-Star attorneys said in the filing. “With no better option available, the company agreed to work with Sandton.”
The Rowe family has owned Free Lance-Star for 130 years, but that will come to an end with the bankruptcy filing. Free Lance-Star’s attorneys filed a motion in U.S. District Court to allow the company to run its operations as a debtor-in-possession during the Chapter 11. Judge Kevin Huennekens is expected to approve the motion, which means that business will continue as usual, at least for the present according to Fredericksburg.com.
FLS publisher Nick Cadwallender told Fredericksburg.com that the filing isn’t expected to have an immediate impact on any of the company’s employees, customers, advertisers, or vendors. The newspaper and digital products are expected to be created and delivered normally, and the company’s radio station will continue with regular programming.
Whether the “ink and paper” will remain after the dust clears has yet to be determined.
- Practices: Corporate Transactions & Business, Bankruptcy & Creditors' Rights, Bankruptcy Litigation
- Locations: Red Bank, NJ, New York City, Little Falls, NJ
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
When Are New Jersey Business Owners Personally Liable for Corporate Debt?
New Jersey personal guaranty liability is a critical issue for business owners who regularly sign contracts on behalf of their companies. A recent New Jersey Supreme Court decision provides valuable guidance on when a business owner can be held personally responsible for a company’s debt. Under the Court’s decision in Extech Building Materials, Inc. v. […]
Author: Charles H. Friedrich
Commercial Real Estate Trends to Watch in 2026
Commercial real estate trends in 2026 are being shaped by shifting economic conditions, technological innovation, and evolving tenant demands. As the market adjusts to changing interest rates, capital flows, and workplace models, investors, owners, tenants, and developers must understand how these trends are influencing opportunities and risk in the year ahead. Overall Outlook for Commercial […]
Author: Michael J. Willner
One Big Beautiful Bill: New Tip Income Tax Rules Employers & Workers Need to Know
Part 2 – Tips Excluded from Income Certain employees and independent contractors may be eligible to deduct tips from their income for tax years 2025 through 2028 under provisions included in the One Big Beautiful Bill. The deduction is capped at $25,000 per year and begins to phase out at $150,000 of modified adjusted gross […]
Author: Scott H. Novak
One Big Beautiful Bill: New Overtime Tax Rules Employers and Employees Need to Know
Part 1 – Overtime Pay and Income Tax Treatment Overview This Firm Insights post summarizes one provision of the “One Big Beautiful Bill” related to the tax treatment of overtime compensation and related employer wage reporting obligations. Overtime Pay and Employee Tax Treatment The Fair Labor Standards Act (FLSA) generally requires that overtime be paid […]
Author: Scott H. Novak
New York’s FAIR Business Practices Act: What the New Consumer Protection Measure Means for Your Business
In 2025, New York enacted one of the most consequential updates to its consumer protection framework in decades. The Fostering Affordability and Integrity through Reasonable Business Practices Act (FAIR Act) significantly expands the scope and strength of New York’s long-standing consumer protection statute, General Business Law § 349, and alters the compliance landscape for New York […]
Author: Dan Brecher
How to Reduce Legal Risk as Your New Jersey Business Grows in 2026
For many New Jersey businesses, growth is a primary objective for the New Year. However, it is important to recognize that growth involves both opportunity and risk. For example, business expansion often results in complex contracts, an increased workforce, new regulatory requirements, and heightened exposure to disputes. Without proactive planning, even routine growth can lead […]
Author: Ken Hollenbeck
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.