SaltWire Network, a news company that owns about two dozen newspapers across Atlantic Canada, filed for creditor protection in Nova Scotia Supreme Court earlier this week.
According to the court filings described by several media reports, the company has debts of almost $100 million. Per CBC News, SaltWire claims its debt is closer to $64 million.
Ian Scott, SaltWire’s chief operating officer said he is confident the company will emerge from these proceedings stronger than before.
“We are dedicated to continuing our legacy of providing insightful, local journalism and contributing positively to the communities we serve.”