Norman Ridker, whose Thoroughbred Times owed millions of dollars to creditors when he closed the company through Chapter 7 bankruptcy, secured a large personal payday Feb. 1 by selling his remaining magazines.
A meeting is scheduled in Lexington Oct. 16 for creditors of Thoroughbred Times Inc., which filed for Chapter 7 bankruptcy protection Sept. 14 and ceased operations of the Thoroughbred magazine and website.
The Chapter 7 bankruptcy filing by the publisher of Thoroughbred Times lists liabilities of nearly $5.3 million and assets totaling just under $1 million.
Thoroughbred Times, a Lexington-based magazine dedicated to the Thoroughbred racing industry, declared Chapter 7 bankruptcy and terminated operations Sept. 14, editor in chief Mark Simon confirmed the following day.
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