(Reuters) – perhaps sex doesn’t promote that nicely in the end.
FriendFinder sites Inc FFNT.PK , author of Penthouse mag and numerous adult-entertainment sites, filed for part 11 case of bankruptcy on Tuesday.
The pany, which desired to bine social networking and love-making, claimed they have smitten a deal with noteholders that will lessen their obligations by $300 million if licensed by the U.S. bankruptcy proceeding Court in Delaware.
In program, one group of noteholders will require ownership for the sex enjoyment organization, which traces the beginnings towards belated Penthouse author Bob Guccione. As well as very common in bankruptcy, investors will probably be leftover with absolutely nothing.