Thoroughbred Times, a Lexington-based magazine dedicated to
the horse racing industry, declared Chapter 7 bankruptcy and terminated
operations Sept. 14, editor in chief Mark Simon confirmed Sept. 15.
The company is now under the control of a bankruptcy trustee who will
determine the outcome of assets, including the resolution of debt to
several freelance journalists and photographers.
Twenty-seven full-time employees received a FedEx letter Sept. 15 indicating the Times had been shut down and advising them of their termination. The building is locked and is currently inaccessible.
"I was surprised, but I wasn't surprised," said Simon. "I just feel
bad for all the employees and contributors who worked so hard to put
out what I feel was a good product."