The filing also set in motion the process to open the bidding for Questex’s assets to other potential buyers. The date for the bidding deadline was set as Nov. 18;. the auction, for Nov. 20.
In the filing, the company stated that it had revenue of $129 million in 2008 and about $30 million in earnings before interest, taxes, depreciation and amortization. The company said in the filing that its EBITDA, before restructuring costs, will total only $15.9 million in 2009. The company’s book value is said to be $299 million and its liabilities total $321 million.