Penthouse owner files for bankruptcy protection

The owner of Penthouse magazine and a group of dating websites has sought US bankruptcy court protection after logging losses in seven consecutive years.

17th September, 2013
Penthouse and other adult magazine titles have faced massive competition from the internet in the last decade.

The owner of Penthouse magazine and a group of dating websites has sought US bankruptcy court protection after logging losses in seven consecutive years.

Florida-based FriendFinder Networks, operator of fastcupid.com, gayfriendfinder.com, lesbianpersonals.com, socialflirt.com and getiton.com, as well as sites categorised by country, listed assets of $465.3 million and debt of $661.9 million in today’s filing in Delaware. The company said it had reached a deal with creditors to reorganise under Chapter 11....

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