McClatchy auction to begin Friday after credit bid motion is denied

By Caroline Salls

Pittsburgh, July 9 – McClatchy Co. will conduct an auction for its assets on July 10, according to a notice filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

The company said it postponed the auction, which was originally scheduled to begin on Thursday, after Alden Global Capital, LLC and its affiliates asked the court to prohibit some secured creditors from submitting credit bids.

However, McClatchy said in Thursday’s motion that Alden’s request was denied by the court.

McClatchy is a news and information provider based in Sacramento, Calif. The company filed bankruptcy on Feb. 13 under Chapter 11 case number 20-10418.

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