The Current Newspaper Folds, Company Files Bankrupcy

GEORGETOWN, D.C. -- Current Newspapers, Inc. announced May 13 that the company is folding. The half a century-old business filed for Chapter 11 bankruptcy protection last year and filed for Chapter 7 bankruptcy protection May 10. A hearing is set for May 22 in U.S. Bankruptcy Court for the District of Columbia.

The move to Chapter 7 from Chapter 11 means assets will be liquidated and the company dismantled. The Georgetowner shared information about the closure, noting that The Current's former editor and publisher, Davis Kennedy, bought the company in 1994 to expand its reach, but recently experienced difficulty garnering enough advertising revenue for sustainability.

The newspaper company launched in 1967 as the Potomac Current, eventually changing its name to the Northwest Current and adding editions covering Chevy Chase, Dupont Circle, Foggy Bottom and Georgetown, The Georgetowner noted.

According to records at the U.S. Bankruptcy Court for the District of Columbia, Current Newspapers has more than $1.2 million in liabilities and less than $50,000 in assets.