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The company that published Silicon Valley Biz Ink, the business weekly newspaper that ceased publication Dec. 20 after a four-year run, will file for bankruptcy, the paper's publisher said Wednesday.
Biz Ink was launched in September 2000 by a former publisher of the Silicon Valley/San Jose Business Journal. On Monday, Biz Ink dismissed its 24 employees with no severance pay after investors in the company, Silicon Valley Biz Ink LLC, decided to invest no more money.
Valley Scene, a monthly publication reporting society and community news also produced by Biz Ink's staff, closed too.
"We weren't generating profit and we weren't generating enough cash," said publisher Jim Evers.
Mr. Evers became publisher in April when the paper's founder Armon Mills, resigned to become publisher of the San Diego Business Journal, owned by CBJ Associates.
Mr. Mills referred an interview request to Mr. Evers.
While Mr. Evers declined to discuss specifics of...