When Sex Doesn't Sell: FriendFinder Networks Files for BankruptcyBy
Sometimes the sex business is rough and leaves an investor really sore–or wiped out, as in the Chapter 11 case of FriendFinder Networks, which owns Penthouse magazine and a string of adult entertainment websites. The company is best known for AdultFriendFinder.com, which enables people to arrange meetings for sex. The more than 40 sites in the brand network include BigChurch.com, a site for Christian singles; Amigos.com, a site for Latinos; and LesbianPersonals.com.
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