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WJJL declares bankruptcy.
What used to be a significant radio station in Niagara Falls is now
listed as a bankrupt business operation using a West Seneca, NY address from the
rear of a shopping plaza. M.J. Phillips Communications, a/k/a WJJL 1440
Radio, 920 Union Road, West Seneca has published information indicating it
doesn't have enough money to pay its debts and is asking the court for
protection under Chapter 11 of the bankruptcy laws. WJJL is listing
$180,859.25 in debt and $67,020 in assets. Most of the assets are believed
to be non-liquid in the form of essential radio equipment which still includes a
transmitting tower off Buffalo Avenue in Niagara Falls. As of Saturday,
2/22 the station was still on the air. Under the bankruptcy law it hopes
to get away with not paying, or not paying in full, those who gave it
credit. The negative worth of the radio station compared to the relative
value of the license makes the property prime for an involuntary sale.
(2/22/03)
Olisiko webbisivut
tuon takia suljettu.
En tiedä
e-mailiosoitetta, toimineeko sekään :)
73
JSA
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