(Bloomberg) — Acosta Inc., the marketing firm owned by Carlyle Group LP, has gone bankrupt after big consumer-product firms decided to do more of the work themselves to keep up with changing consumer tastes.The Chapter 11 bankruptcy filing in Wilmington, Delaware, listed liabilities of $1 billion to $10 billion, and no more than $1 billion in assets. Recent records show the company had about $2.85 billion in bonds and loans outstanding, according to data compiled by Bloomberg.Acosta skipped its Oct. 1 bond interest payment and said it was working on a plan that would hand control over to its creditors. …read more
Source:: Yahoo Finance
