image thumb135 New York Times in deep trouble borrows $225 million against its HQ

With cash a distant dream and a debt payment to pay, New York Times is in all sorts of trouble. NYT is trying to grab every possible opportunity to muster it and has hired a real estate firm to tap out $225 million putting its HQ as collateral. Catherine Mathis from NYT stated:

We may borrow up to $225 million. That’s not the market value of the building

I hope things improve for NYT, and improve soon for conditions look much worse than we could have anticipated.