Multimedia Platforms Worldwide (MMPW), which owns several LGBT outlets, has filed for Chapter 11 bankruptcy.

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, MMPW filed for bankruptcy on Tuesday in federal court.

MMPW estimates in its bankruptcy petition assets at less than $50,000 and liabilities between $1 and $10 million.

MMPW founder Bobby Blair said in a press release last month that the company was the target of a lawsuit filed by lenders in Massachusetts which resulted in seizure of the company's assets. The company's various magazines and newspapers have ceased publication.

News of MMPW's troubles came 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.