Thursday, January 1, 2009

Lee auditors issue ‘going concern’ warning

With Lee Enterprises unlikely to have the cash required to make a $142.5 million debt payment due this spring, there is “substantial doubt about its ability to continue as a going concern,” according to its auditors.The statement is contained in multiple locations in the annual report the company filed quietly at 4:42 p.m. (EST) on New Year’s Eve. Twenty-three minutes later, the company also

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