Filing Alert: CareerBuilder, Monster Affiliates Chapter 11
CareerBuilder, Monster Affiliates File Chapter 11 in District of Delaware
Zen JV, LLC, the parent entity behind the online job-board brands CareerBuilder and Monster, together with its debtor affiliates⁽¹⁾, filed for Chapter 11 protection on Jun. 24 in the U.S. Bankruptcy Court for the District of Delaware.
The filing comes amid what CEO Jeff Furman described as a “challenging and uncertain macroeconomic environment,” with the company pursuing a court-supervised sale process aimed at maximizing value and preserving jobs. The company is in the process of finalizing a DIP facility of up to $20 million with Blue Torch Capital to fund operations during the Chapter 11, and has entered into three stalking horse agreements: JobGet Inc. for the job board business, Valnet Inc. for Monster Media Properties (comprised of military.com and fastweb.com), and Valsoft Corporation for Monster Government Services.
The company reports $50 million to $100 million in assets and $100 million to $500 million in liabilities. The filing indicates that no funds will be available for distribution to unsecured creditors after administrative expenses are paid. The case number is 25-11195.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Bankruptcy Counsel:
- Zachary I. Shapiro
- Richards, Layton & Finger, P.A.
- Email: shapiro@rlf.com
Co-Bankruptcy Counsel:
- Latham & Watkins LLP
Financial Advisor:
- AlixPartners, LLP
Investment Banker:
- PJT Partners LP
Signatories:
- Jeff Furman – Chief Executive Officer
Claims Agent:
Equity Security Holders:
- Camaro Holdings, LLC – 51% Class A, 35.7% Class B
- Randstad MWW Inc. – 49% Class A, 49% Class B
- 2584172 Ontario Inc. – 15.4% Class B
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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