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Blogs > MJ716 > My Blog


MJ716 78F
45 posts
9/19/2013 2:20 pm
Regarding Chapter 11 bankruptcy filing by FFN

I received the following letter today. Thought you would all be interested.

Dear Member,

FriendFinder Networks Inc. (FFN) recently reached an agreement with the majority of our noteholders to substantially reduce the Company's debt. This is good news for the Company and our customers. With less debt, we can reinvest in our business and position our flagship brands for additional growth.

The agreement will be put in place through a Court process in the U.S. known as Chapter 11. Chapter 11 is a part of the U.S. Bankruptcy Code that allows companies to restructure their debt, while continuing normal operations. It does not mean we are going out of business.

In fact, it will be business as usual at FFN. The process is not expected to have any impact on our users, our websites or our services. If anything, the plan is to improve the user experience by allowing FFN to increase investment in our flagship brands.

All website services will continue to function normally.

If you have any further questions, please visit www.ffn.com and review the section under "Investor Relations".

Regards,

Unai U.
FFN Networks Team

Abelle2 83F
31246 posts
9/19/2013 2:45 pm

 Thank you...sounds like it may work out ok.


spiritwoman45

9/19/2013 9:12 pm

 Good news for now.
Spiritwoman ^i^


bijou624

9/19/2013 11:01 pm

 Hi MJ: That sounds reassuring, but I wonder why FF sent you and possibly others a letter about this and not to all of us? Did you write to them first?


MJ716 78F
105 posts
9/20/2013 7:27 am

 In answer to bijou & JANO I received the letter because I phoned them to ask about what was going on with all the rumors regarding the bankruptcy. I chose to be an optimist on this one and hope SFF isn't lying to us about keeping the status quo, so to speak.


Archer62 83F
7117 posts
9/20/2013 9:17 am

 Glad to hear that, let's hope it all works out. I would sure miss this place.




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