Black News Channel — which shut down operations on Friday, just two years after making a splashy debut — has filed for Chapter 11 bankruptcy in Florida.
In its Monday filing, the Tallahassee-based network listed $10 million-$50 million in liabilities, and estimated between 200 and 999 creditors are owed money.
“They filed for bankruptcy faster than they paid their employees the money they’re owed,” one former employee told TheWrap on Tuesday. “I received a partial payment this morning for two weeks of work. They still owe me for another week.”
That former staffer was one of roughly 230 who were let go last Friday when the channel ceased operations; the network plans to air repeats for the rest of this month.