Lakeway Publishers, Inc. Comes Out of Bankruptcy | Local News
Almost two years to the day after receiving Chapter 11 protections, Lakeway Publishers, Inc., the parent company of the Tullahoma News, came out of bankruptcy.
Judge Shelley Ricker signed the order on Thursday, May 27.
Lakeway Publishers, Inc. President R. Jack Fishman said the announcement was important to Lakeway publishers, its newspapers and the communities they serve.
“We greatly value our relationships with our readers, employees and customers. Throughout this process, we have remained committed to maintaining the trust we have earned over the years, ”said Fishman. “It was not an easy process. We entered these protections less than a year before the onset of a global pandemic that presented unique challenges that made the process more arduous. “
Yet Lakeway Publishers was founded on the idea of providing the essential information for a community to thrive while enlightening its readers. And while times have changed and the business adapts, the mission remains the same, Fishman said.
“Newspapers, like many industries, must continue to respond to new challenges in an ever-changing economic climate,” said Fishman, “but above all, they must always serve their community.
Lakeway Publishers, Inc. is made up mostly of small newspapers and websites in small communities in Tennessee, Missouri, and Virginia.
“In our democracy, it is vitally important that our citizens stay informed, and we come out of this process with a renewed commitment to our important role and with greater flexibility,” Fishman said. “In times of global crisis, the role of a community newspaper is even more vital. Our job has been to help provide information that helps and educates our readers on ways they can protect themselves and their families.
“I am especially proud of the work that the Lakeway Publishers newspapers have accomplished during these difficult times. The fact that they fulfilled this role while going through the Chapter 11 process is further proof of the resilience of our newspapers, our employees and our loyal readers who support us.
Fishman said he was happy Thursday’s announcement will help Lakeway publishers continue to improve, striving to do their job even better.
“For the future, we are convinced that we are in a better position to be able to provide the best local news on citizens, government, businesses, schools, sports and the things that affect our daily lives and, in at the same time, to build a stronger business with employees committed to our long history of supporting our local communities, ”said Fishman.