Thoroughbred Times owner and publisher, Norman Ridker has filed for Chapter 7 bankruptcy and ceased operations, effective immediately.
The Lexington, Kentucky-based publication had 27 full-time employees, who received notification via Fed Ex on Saturday, including editor and co-founder, Mark Simon.
Simon said the news came as a shock, though it wasn’t surprising. He told the Paulick Report, “We’d been struggling. He (Ridker) buried the company with debt and overhead from other publications.”
The magazine, which launched 27 years ago, recently switched from a weekly format to twice monthly. It also published the Thoroughbred Times Today electronic newsletter, the Stallion Directory, Buyer’s Guide, and a website, www.ThoroughbredTimes.com
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