SCWPM publisher F+W Media files for bankruptcy
"The firm F + W media, a major periodical and book publisher whose titles include Numismatic News, Bank Note Reporter, and the seminal references Standard Catalog of World Coins and Standard Catalog of World Paper Money, has filed for Chapter 11 bankruptcy protection to reconcile $105.2 million in outstanding debt.
In its March 10 filing in U.S. Bankruptcy Court for the District of Delaware in Wilmington, F + W Media cites just $2.5 million in cash on hand. The company plans to remain in operation while it plans liquidation of its holdings.
Company officials cite industry decline, problematic investments and corporate mismanagement as contributing factors leading F + W into bankruptcy.
The court filing identifies an estimated 1,000 to 5,000 creditors that fill 543 pages of court documents."
Will this be the end of the Standard Catalog of World Paper Money?
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