The accumulation of treeware on door steps is symptomatic of the crazy mess the yellow books find themselves in. Most people are somewhat aware that yellow pages have been suffering horribly with the decline in their core business over recent years. What most don’t realize that central to their problems are greatly exacerbated by the debt they accumulated a decade or more ago when times were great and many groups went on buying sprees to build huge publishing groups.

I read the other day that in order for Dex to complete their deal with SuperMedia either their debtors will have to agree to a restructuring or both of them will have to go bankrupt (again) to complete the deal. Similarly Hibu in the UKĀ  (formerly Yell) have suspended debt repayments until they restructure their financials causing their stock to plummet by over a third.

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