Multimedia Platforms (MMPW), which owns several LGBT outlets, this week told employees that it was suspending operations as it attempts to regain its financial footing.

MMPW, which is based in Fort Lauderdale, Florida, owns weekly LGBT publications Florida Agenda and Next Magazine, which is circulated throughout New York City, upstate New York, New Jersey and Fire Island, Los Angeles biweekly gay lifestyle magazine Frontiers, WiRLD city guides and LGBT newssite

According to South Florida Gay News (SFGN), which broke the story, the staff of MMPW has been let go and there will no print editions this week.

MMPW founder Bobby Blair told SFGN that he was not kept in the loop over the last four months. Blair, who is listed as chairman on the company's website, said that he was re-appointed as CEO last week. He said that he told employees that the company was in “suspension.”
“[N]ew management signed a horrible deal that I have now to fix,” Blair said.

In a press release short on details, Blair said that the company was the target of a lawsuit filed by lenders in Massachusetts which resulted in seizure of the company's assets. A restraining order prohibits “the company from distributing any cash or any other assets of the company,” he said.

News of MMPW's troubles come less than a week after the parent company of lesbian website denied claims that it was shutting down the site but added that going forward it would rely on freelance writers.