Ziff Davis files for bancruptcy

Wednesday, 5 March 2008 22:20 GMT By Patrick Garratt

According to this, 1UP publisher Ziff Davis has filed for Chapter 11. In other words, it’s gone bancrupt.

“Ziff Davis filed for bankruptcy in the Southern District of New York court today as part of a debt restructuring plan,” said that report.”

“This agreement underscores our Senior Secured Noteholders’ confidence in our ability to position ourselves for continued profitable growth,” CEO Jason Young said in a statement. “Today’s restructuring agreement goes a long way towards resolving the burdens of a debt load and capital structure established seven years ago, during a leveraged buyout of the company.”

Hit that link right now.

Update: Here’s the press release.