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As expected the economy downtime is seeing many big rollers fall flat – another newspaper to make it in headlines is The Start Tribune, as it filed for bankruptcy. Minesota’s largest newspaper filed for a bankruptcy petition stating that it would use this to restructure the company, see through its debts and cut down on labor costs.

Reports suggest that filing for bankruptcy was not foreseen, though as the company had missed its debt payments for the last few months, and failed to hand out pay cuts to employees, this should’ve been coming. Star Tribune has listed assets of $493.2 million and liabilities of $661.1 million. The newspaper’s publisher, Chris Harte states:

We intend to use the Chapter 11 process to make this great Twin Cities institution stronger, leaner and more efficient so that it is well positioned to benefit when economic conditions begin to improve.