Ledgemont Capital Group LLC, a boutique investment bank, filed for chapter 7 bankruptcy to liquidate its assets, which it estimated at between $10 million and $50 million, Reuters reported yesterday. New York-based Ledgemont was a joint underwriter, along with Russian investment bank Renaissance Capital, of a scuttled, $460 million initial public offering by FriendFinder Networks Inc. that was originally planned for 2008. FriendFinder Networks, which publishes the adult magazine Penthouse, eventually went public in 2011 after it named Imperial Capital and Ladenburg Thalmann & Co. as its underwriters. Ledgemont said it had between $1 million and $10 million of liabilities, according to court documents filed on Friday. The case is Ledgemont Capital Group LLC, U.S. Bankruptcy Court, District of Delaware, No. 13-11196.
