Charlotte Observer parent McClatchy gets a month reprieve in restructuring negotiations

//Charlotte Observer parent McClatchy gets a month reprieve in restructuring negotiations

Charlotte Observer parent McClatchy gets a month reprieve in restructuring negotiations

Newspaper publisher The McClatchy Co. said Wednesday it has negotiated for more time to work out a payment plan for a pension obligation payment that was due today. Under a standstill agreement, the Pension Benefit Guaranty Corp. has agreed to a forbearance period until Feb. 18, McClatchy said in a news release. In November, McClatchy, which owns The Charlotte Observer and The Herald in Rock Hill, reported it was facing a liquidity crisis because its employee pension plan was underfunded by $535…

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By | 2020-01-16T16:21:45+00:00 January 16th, 2020|Media|

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