It's Chapter 11 For Cape Cod Broadcasting
September 25, 2009 at 4:57 AM (PT)
CAPE COD BROADCASTING owner of AC WQRC, Classic Rock WOCN, Country WKPE, Classical WFCC and the CAPECOD.COM website, filed for Chapter 11 bankruptcy protection YESTERDAY, reports THE BOSTON HERALD.
Court papers show that the broadcaster has insufficient funds to continue operating unless the court gives it the go-ahead for a loan of up to $500,000. The company listed less than $50,000 in assets and $10 million to $50 million in debt in its bankruptcy filing.
CAPE COD BROADCASTING has 32 employees, according to court documents.