The staff, or should we say the former staff at Black News Channel has felt pretty much in the dark after the company missed payroll and then said that were filing bankruptcy.

BNC finally reached out to those employees with an internal email.

Basically, it says that for those waiting to still be paid what they are owed are screwed.

But hey, “Warmest Regards”

FTVLive obtained a copy:

BNC Corporate Update

As Black News Channel (“BNC”) continues to work through the process of our Bankruptcy Chapter 11 filing on March 28, 2022, the timelines for completing certain key actions have been extended, one of which is the payment for earned but unpaid wages to former BNC employees for the period March 19 – 25, 2022. It is with great regret that we must inform you that BNC will not be able to pay these wages on Friday, April 8, 2022 as previously communicated.

On March 25th, Human Resources communicated to you all our intention to ensure that all employees would be compensated in full for all earned but unpaid wages through Friday, March 25. That intention is unchanged.

At the time of that communication to you, the plan for BNC was to wind down the business and close its doors completely. However, as news of the shutdown began to spread in the media, several credible parties expressed their interest in purchasing BNC so in the name of exploring these inquiries, our restructuring strategy shifted. With the approval of the Board, BNC made the decision to file a voluntary bankruptcy reorganization proceeding under Chapter 11 in the U.S. Bankruptcy Court.

The decision to file for Chapter 11 gives BNC the best opportunity to stabilize its business operations and pursue strategic alternatives for the benefit of its creditors and other stakeholders, including a possible sale of its assets and business. In short, while not the outcome any of us envisioned for the network, Chapter 11 is in the best interest of the future of BNC.

Unfortunately, by virtue of filing for Chapter 11, we must be granted permission by the court to pay anyone, including the remaining earned but unpaid wages to all of you. So, though it was communicated that unpaid wages would be paid on April 8th, we have been informed that this cannot occur. Our commitment to reconciling this through the required legal process is ongoing and absolute. Be assured that this procedural matter has our total attention, and we will stay in close contact with you as this process is completed.

We do recognize the hardship this delay may cause and thank you for your continued patience during what is understandably a challenging and difficult time for everyone.

Warmest Regards,

Allison Gordon and Maureen Brown
BNC Corporate Officers