A little poetic justice in the morning. The casual sex dating site that owns Penthouse magazine has
gone broke.
Sept 17 (Reuters) - FriendFinder Networks, which publishes the adult magazine Penthouse, filed for Chapter 11 bankruptcy on Tuesday with the aim of cutting its debt load as the company struggled to make certain loan payments, a court filing showed.
The holding company, which also houses internet sites such as adultfriendfinder.com, listed out estimated liabilities of $500 million to $1 billion and assets less than $10 million, according to a court filing.
FriendFinder has not turned in a net profit at least since 2008, Thomson Reuters data shows. Total revenue for the four consecutive fiscal quarters ended June 30, 2013 was $293.70 million, a filing showed.
Here is the world's smallest violin playing a sad, sad tune.
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