Idaho Business Review owner files for bankruptcy

Associated PressMarch 20, 2014 

The Dolan Co., publisher of the weekly Idaho Business Review in Boise, plans to file a prepackaged Chapter 11 bankruptcy reorganization to cut its debts by $120 million.

The Minneapolis-based publisher of business and legal journals in 19 U.S. markets announced the plan Thursday. Operations will continue during the reorganization.

As part of reorganization, company founder and CEO James P. Dolan and chief operating officer Scott Pollei will resign.

Dolan's DiscoverReady business will not file a Chapter 11 petition, and its operations will not be affected. DiscoverReady provides outsourced discovery management and document review services to companies and law firms.

The reorganization is aimed at reducing the company's debt from $170 million to about $50 million. The company said it expects to emerge from bankruptcy in two months.

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