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R.H. Donnelley bankruptcy plan on track

Posted January 12, 2010

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— A federal bankruptcy court approved the second step in the regoranization plan Tuesday for yellow pages publisher R.H. Donnelley.

The company (OVTC: RHDC) said more than 96 percent of its creditors have approved its actions, and it is on track to emerge from voluntary Chapter 11 bankruptcy by the end of the month.

Donnelley filed for bankruptcy in May in a Delaware court after mounting losses and mountains of debt.

Before the filing, the publisher struck an “agreement in principle” with “key debt holders for a reorganization plan that would reduce debt by $6.4 billion and cut annual interest payments by $500 million," the company said.

Among Donnelley’s largest creditors are Bank of New York Mellon and U.S. Bancorp.

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  • krisandbruiser Jan 12, 2010

    They also have a plant in wilson that makes labels.

  • slick rick da troll whisperer Jan 12, 2010

    "And just think - they have nearly the most listings on Careerbuilder for new posistions!"

    rh donnelley is always hiring sales reps. fortunately, im not in sales, but if i was, that is a job that i definitely would not want to have. right now, it looks like rhd has about 5 listings in careerbuilder, and about 20 if you include dex (a subsidiary of rhd)

  • TheAdmiral Jan 12, 2010

    And just think - they have nearly the most listings on Careerbuilder for new posistions!