Casiano Communications files for Chapter 11 bankruptcy in Puerto Rico
October 28, 2014
Casiano Communications Inc. and Direct ResponSource Inc. announced that they filed for reorganization under Chapter 11 of the Bankruptcy Law after advice that it is the only way to save employees’ jobs and treat creditors fairly. Direct ResponSource is a wholly owned subsidiary of Casiano Communications, publisher of CARIBBEAN BUSINESS newspaper.
CARIBBEAN BUSINESS has been telling its readers how hard it is to run a business in the Puerto Rico economy, which is now in its ninth year of depression. The company’s own experience proves it. Casiano Communications started in 1973, and each of its 11 publications is No. 1 in its category in Puerto Rico.
Direct ResponSource started in 1986 as the first full-service telemarketing contact center in Puerto Rico, and can accommodate more than 1,100 agents at a time. It is well-positioned to take full advantage of Law 20 as a bilingual center serving U.S. mainland English-speaking markets as well as the diverse Latino market in the U.S., with a population of more than 54 million.
A planned expansion of Casiano Communications’ eight Spanish-language magazines to stateside Latino markets is underway as digital publications.
Casiano Communications and Direct ResponSource will welcome discussions with accredited investors to participate in the strategic reorganization and obtain the benefits of Law 20.
Courtesy of Caribbean Business
