The publisher of the Baltimore Jewish Times was expected to file a request Monday for an emergency cash infusion to continue to pay operating expenses, the latest step in the company's extended bankruptcy proceedings.
At a hearing at U.S. District Court in Baltimore, Judge Nancy Alquist said Alter Communications was making the motion at a point when "the infusion of cash is deemed to be critical."
Alter, which has about 40 employees, has been in Chapter 11 bankruptcy protection since April 2010 and has fought with its top creditor, H.G. Roebuck & Son Inc., for control of the company.
In January, Alter posted a profit of $17,667 on revenue of $454,779, according to court documents. But it has racked up around $500,000 in expenses while under bankruptcy protection, court documents show. How Alter would raise the additional funds was unclear.
Andrew Buerger, CEO and publisher of Alter, said Monday he did not have a dollar figure for the amount of short-term working capital needed.
Twitter.com/gussentCopyright © 2015, The Baltimore Sun