APBnews.com to File for Chapter 11 Protection

APBnews.com, New York, said yesterday it planned to file for bankruptcy protection.

The online news service that specializes in crime and court coverage ran out of money last month and laid off 140 employees. The company then rehired a bare-bones staff to keep the site operating while it seeks financing.

APBnews is $7 million in debt, according to reports.
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