No Surprise: Star-Trib Goes Bust
It's been expected for months, even years now, but it finally happened today. The Star-Tribune filed for Chapter 11. The company has been a bruise on Avista Capital’s portfolio almost since firm plunked down $530 million for it two years ago. peHUB has covered the development, or rather, deterioration, of the investment pretty extensively here, here, here and here. For non-subscribers, the gist of the coverage is that the deal was both a failed investment thesis and foolish capital structure. Avista entered
16 January 2009•2 mins read
