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2w ago

CareerBuilder + Monster Files Chapter 11, Agrees to Sell Businesses

It has secured $20 million in debtor-in-possession financing to support court-supervised sales of its core operations.

Bridget Dougherty (R) waits in line to enter a Monster.com job fair in Los Angeles, California July 23, 2008. REUTERS/Fred Prouser/File Photo
A man holds pamphlets as he waits at a job fair sponsored by employment website Monster.com as part of their "Keep America Working" tour at a hotel in New York's Times Square, March 5, 2009. REUTERS/Mike Segar/File Photo
People wait on line for a job fair sponsored by employment website Monster.com as part of their "Keep America Working" tour at a hotel in New York's Times Square, March 5, 2009. REUTERS/Mike Segar/File Photo
A help wanted in the window of the Quicksilver store on Forest Avenue in Laguna Beach, CA on Thursday, Feb. 6, 2025. The store is among 100 Liberated Brands retail locations being shuttered. Liberated Brands is the distributor of Billabong, Quiksilver and Volcom. (Photo by Jeff Gritchen, Orange County Register/SCNG)

Overview

  • CareerBuilder + Monster filed for Chapter 11 in Delaware to enable court-supervised sales of its job board, software services and media site businesses.
  • It has secured stalking-horse bids from JobGet for its job board, Valsoft for its government software services and Valnet for Military.com and Fastweb.com.
  • Court documents estimate its assets at $50 million to $100 million against liabilities of $100 million to $500 million.
  • Blue Torch Capital has committed up to $20 million in debtor-in-possession financing to maintain operations during restructuring.
  • Chief Executive Jeff Furman said the plan includes workforce reductions to tackle falling subscription renewals and mounting competition from aggregators and social media platforms.