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Eye View Business, National Enquirer Goes Into Chaper 11, Looking For Ways To Trim The Fat

After years of dishing tales of celebrity folly and misfortune, The National Enquirer’s publisher has fallen on hard times of its own.

American Media Inc. plans to seek federal bankruptcy protection in the next two weeks or so. The privately held company, based in Boca Raton, Fla., announced its intention Monday without sharing any details about its finances.

American Media, whose other publications beside The National Enquirer include Star, Shape, Men’s Fitness and Fit Pregnancy, is trying to get most of its creditors to back its reorganization plan before it files for Chapter 11 protection. About 80 percent of American Media’s bondholders already have expressed their support, the company said.

National Enquirer looking for ways to trim the fat…

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