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2mo ago

CareerBuilder + Monster Files Chapter 11, Plans to Sell Job Board, Software and Media Units

The company is securing $20 million in debtor-in-possession financing from Blue Torch Capital to sustain operations through a court-supervised sale process.

A man holds pamphlets as he waits at a job fair sponsored by employment website Monster.com in 2009. The website filed for bankruptcy 16 years later.
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
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

  • Delaware court filings list the company’s assets at $50 million to $100 million and liabilities at $100 million to $500 million.
  • CareerBuilder and Monster merged in September 2024 but saw revenue fall almost 40% last year as newer platforms such as Indeed and LinkedIn gained market share.
  • JobGet Inc. serves as the stalking-horse bidder for the job board unit, with all sales subject to higher and better offers.
  • Valsoft Corp. is slated to acquire the Monster Government Services software arm and Valnet Inc. will purchase the media properties including Military.com and Fastweb.com.
  • Restructuring plans include workforce reductions that CEO Jeff Furman said will help reduce costs and ease the transfer of business units to new owners.