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Former Owner of Riverfront Times, St. Louis Magazine Declares Bankruptcy | Local company

 




Thursday December 17, 2009 – Donnybrook hosts, left to right, Charlie Brennan, Bill McClellan, Martin Duggan, Wendy Wiese and Ray Hartmann, prepare to record “DonnyBLAST”, Duggan’s last appearance in the show at the Sheldon Concert Hall. Donnybrook, a KETC talk show, discusses topical issues with a panel of reporters. Sarah Conard | freelance




UPDATE at 7:15 p.m. Wednesday with commentary by Ray Hartmann.

ST. LOUIS Ray Hartmann, founder and former owner of the Riverfront Times and former owner of St. Louis Magazine, filed for bankruptcy last week.

The 81-page file says Hartmann and his wife have assets of around $ 65,000 and dozens of creditors, including tax authorities, owe more than $ 1 million.

I don’t have a pity party, Hartmann told Post-Dispatch. I have known the extremes of risk and reward capitalism.

Hartmann said he made a catastrophic very large commercial real estate investment.

Many of these debts, valued at approximately $ 251,000, are listed as business loans for St. Louis Magazine LLC. Hartmann sold his property in St. Louis Magazine in December 2018 or January 2019, the filing says.

The couple also owe more than $ 122,000 incurred by Animagination LLC, a hobby store, $ 268,000 in business or personal loans and $ 237,000 in credit card purchases or cash advances. Hartmann also owes Republican consultant Donald Sipple and his wife $ 164,923 for mall-related loans, the record says.

They owe the IRS $ 180,000 for taxes largely related to the sale of their stake in St. Louis Magazine. He declared $ 728,000 in capital gains from “excess distributions” from the sale of St. Louis magazine in 2019. They also owe the Missouri Department of Revenue $ 45,000 in taxes

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