U.S. Bankruptcy Court Judge Kevin R. Huennekens on Friday approved motions enabling the Free Lance-Star Publishing Co. to continue operations while pursuing sale of the company, which filed a Chapter 11 bankruptcy petition Thursday.
"Also Friday, Lynn Tavenner, a Richmond lawyer who is representing Free
Lance-Star Publishing, said the company filed documents to set in motion
a court-monitored auction of the company," the Richmond Times-Dispatch reported.
Another hearing is scheduled in Richmond on Feb. 27, followed by a meeting of creditors the next day.
In addition to The Free Lance-Star newspaper, the company's assets include Fredericksburg.com, Freelancestar.com, WFLS, WYSK, WWUZ and WNTX. It also owns real estate and other digital operations.