Yahoo News: Andrew Conru & "Legendary" Lars Mapstead file Chapter 11 Bankruptcy >>>
 

Wow, who woulda thought this would happen...


Los Angeles ? Various Inc., The parent company of AdultFriendFinder.com and Cams.com has filed for Chapter 11 reorganization and agreed to the company's sale to a firm that helps troubled companies.

The $750 million sale to Gordon Brothers Group is subject to bankruptcy court approval.

The prospective buyer said it intends to continue operating privately held Various, which runs the world largest dating site.

The US-based company has struggled to overcome financial problems left over from its advertising campaign with a company by the name of Zango, while also competing against other newer dating websites and the social networking site MySpace.com.

450-person company brings in well over $200 million in annual revenue.

"Gordon Brothers is actively pursuing the purchase of the assets of Various Inc. with the intention of continuing the operations of the company," said Chet Atkins, a spokesman for Gordon Brothers.

The firm specializes in buying, selling and appraising assets of troubled companies, and providing financing to complete buyouts and turnaround efforts.

Various' board has unanimously approved the sale to Gordon Brothers. Various said in a news release that the Chapter 11 process "will provide an efficient environment for completion of the sale."

The sale to Gordon Brothers "is subject to higher and better offers" during the bankruptcy process, said Various, which did not indicate whether other offers were pending.

Various said it expects the sale to be completed by the end of next month, subject to approval of the U.S. Bankruptcy Court in Delaware where it made its Chapter 11 filing.

GE Commercial Finance will provide temporary financing during the Chapter 11 process and ownership transition, Various said.

Various CEO Andrew Conru, who is the founder of the company, said the sale to Gordon Brothers "transitions the company into a state of permanent ownership and financial stability."

Various hopes it can emerge from the new Chapter 11 case with improved chances.

"We are in an extremely competitive environment, but we are hopeful this will set the company up for long-term success by operating unburdened," Conru said.

http://news.yahoo.com/s/ap/20070401/...JyOGzbLMWM 0F


That is just isane, specually after the nice write up in Business 2.0 mag



































































































































































































Happy april fools day fuckers :321GFY :1orglaugh :party-smi

:1orglaugh :1orglaugh :1orglaugh :1orglaugh good one :1orglaugh :1orglaugh :1orglaugh :1orglaugh

Gonna be a long day on this board.

I saw that one coming, but still :1orglaugh :1orglaugh

So boringly obvious.

I was thinking to a conversation I just had with Lars a little over an hour ago and was replaying it in my mind. Was thinking he sure hid that well.

That was good Jon.

Thanks... I put alot of thought into it... :thumbsup





That is why I got it in early :winkwink:







:1orglaugh :1orglaugh :1orglaugh









But you have to admit it was creative and funny :1orglaugh

hahahaha, funny shit...

life hurts sometimes
zango too

Thanks Lloyd... :thumbsup :1orglaugh

I'm sure you did lol had me goin there for a minute...

:1orglaugh :1orglaugh :thumbsup





I think you missed something.... :winkwink:


Though Zango did get mentioned :1orglaugh

yeahp , sure is

hqhahha i was like wtf?

:1orglaugh :1orglaugh :1orglaugh


Yeah.. ok..

A few days of planning went into it :pimp


:1orglaugh :1orglaugh :1orglaugh

Hehe, good one :)

Thanks :thumbsup

Well done Jon, I was screaming out 'AINT KARMA A MOTHER FUCKER!' until I clicked on the link :( I was really hoping it was true.
good prank though:thumbsup

damn dude, good one

Thanks AR... :thumbsup :1orglaugh

:winkwink: :1orglaugh

damn... u got me. completely forgot about april fools :1orglaugh

:thumbsup :upsidedow :1orglaugh

When Lars made the fake thread claiming to have boughten a Ferrari... I knew he was broke :winkwink:

lame, I never bought it for a second.

Next he will be making a thread talking about he just bought a small island :pimp







Yeah you did... :winkwink:

This need a bump :thumbsup

You certainly got me ...

thank god i take nothing seriously on this day, you ALMOST got me. haha

I'm not reading this board until tomorrow... Had me for a minute. Forgot it was April Fools Day....Good one though I'll give ya that....

damn... now thats what I call a good Aprils Fool joke :1orglaugh :1orglaugh :1orglaugh

I got owned.

Bad joke,not convicing at all.

you asshole... I was about to pull all my traffic

LOL :thumbsup :1orglaugh :thumbsup :1orglaugh

Glad you had fun :thumbsup



I had you... At least half way through :winkwink:



Don't worry, none of the other joke around here are this good, go ahead and stick around for the day.... Thanks :thumbsup


Thanks... It took some thought :1orglaugh



You are not the only one :upsidedow



Come on, have some fun :1orglaugh



:1orglaugh :1orglaugh :1orglaugh



:thumbsup :1orglaugh :thumbsup :1orglaugh

very nice :)

Thanks :thumbsup

well , nice ...

sooooooooooooooo

see my sig TIME