BtoB

R.H. Donnelley files for bankruptcy protection

By Published on .

Most Popular
Cary, N.C.—Directory publisher R.H. Donnelley, battered by dwindling Yellow Page advertising sales and crushing debt, has filed for Chapter 11 bankruptcy protection.

By reorganizing, R.H. Donnelley hopes to reduce its $10 billion debt—accumulated in large part through acquisitions—and eliminate about $500 million a year in interest payments. The company said it plans to emerge from bankruptcy protection after the beginning of 2010.

R.H. Donnelley, which publishes some 600 directories, recorded a net loss of $401 million in the first quarter on revenue of $602 million. The company lost $2.3 billion for all of 2008.

In addition to printing its Dex-branded print white and Yellow Pages directories, R.H. Donnelley has an Internet Yellow Pages site. Its Business.com unit offers a business search engine and online directory.

In this article: