F+W Media Inc., the company behind Writer’s Digest, Sky & Telescope, Beadwork and other niche publications, filed for bankruptcy and plans to sell itself, saying it faced a cash crunch despite a restructuring that included laying off 40 percent of its workers, WSJ Pro Bankruptcy reported. The chapter 11 filing on Sunday in U.S. Bankruptcy Court in Wilmington, Del., comes nearly two years after an out-of-court reorganization in which lenders received nearly all of the equity in exchange for forgiving most of the debt.F+W, whose name is derived from two of its earliest publications, Farm Quarterly and Writer’s Digest, has $105 million in debt. The New York-based company’s products and services include online education, subscription video sites, consumer and trade events, e-commerce stores, and print and digital books and magazines. Revenues last year were $89.7 million.
