Earlier this year, Lodge Net Interactive, which provided adult films and video games to hotels and their guests, filed for bankruptcy, partly due to Internet competition.
The company and its affiliates comprise a global network of more than 8,000 websites with 220 million members and 750,000 subscribers, according to court documents. N and other social sites have boomed, Friend Finder’s limped.
(Reuters) - Maybe sex doesn’t sell that well after all. PK, publisher of Penthouse magazine and numerous adult-entertainment websites, filed for Chapter 11 bankruptcy on Tuesday. Under the plan, one group of noteholders will take ownership of the sex entertainment business, which traces its roots to the late Penthouse publisher Bob Guccione.
The company, which sought to combine social networking and sex, said it had struck a deal with noteholders that will reduce its debt by 0 million if approved by the U. As is typical in bankruptcy, shareholders will likely be left with nothing.
During the survey period it was found, that five percent of responding singles reported that they were current users.
Furthermore, 63 percent of surveyed married individuals stated that they had never used Adult Friend Finder.