August 6, 2008: When the Star Tribune’s pressmen turned down management’s contract proposal last Thursday, they ignored a threat from their own leadership: without a “yes” vote, the company would “have a tough time” making a September debt payment, potentially another step closer to bankruptcy.
The Strib missed a quarterly payment in June; at the time, publisher Chris Harte told Strib columnist Neal St. Anthony the paper was hanging on to the cash to help restructure its debt. The next scheduled payment would fall in September.
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