The parent company for the Arizona Daily Star, Lee Enterprises, has announced that they will be filing for bankruptcy.

The company has announced that they will filing  for Chapter 11 protection because of their $1 billion debt and some of the groups that have loaned them money, refuse to extend their deadlines on the loans. A majority of the lenders agreed to push the loans for another two years, but nearly 6 percent of them did not agree to this.

Lee Enterprise has stated that the Daily Star was not included in the bankruptcy proceedings. As a result of the bankruptcy filings, the lenders that did not agree may now have to if thats what the majority agress.

If you or a loved one has been considering filing for bankruptcy, you need experienced representation on your side. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, LLC by calling 480-829-0494 today.