BNA Subsidiaries, LLC - Publisher of Materials for Business & Goverment Professionals - Files for Chapter 11 Bankruptcy Protection
Seeking Alpha Analyst Since 2010
Earlier today, BNA Subsidiaries, LLC voluntarily filed for chapter 11 bankruptcy protection in Delaware. BNA Subsidiaries is a wholly-owned subsidiary of The Bureau of National Affairs, Inc. (also known as BNA), which was not included in the chapter 11 filing. The Bureau of National Affairs describes itself as "the largest independent publisher of information and analysis products for professionals in business and government."
BNA Subsidiaries, LLC was formed on January 1, 2009 through the merger of Kennedy Information, Inc., which was acquired by BNA in 2000, and the Institute of Management and Administration, Inc. (or IOMA), which was acquired in 1997. According to BNA's website, the two entities' business lines are:
Court filings state that BNA Subsidiaries intends to file a proposed plan of reorganization "within the first few weeks" of the bankruptcy case and hopes to emerge from chapter 11 protection in "early 2011."
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