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The Post's Publisher Runs For Cover


In Business This Week

THE POST'S PUBLISHER RUNS FOR COVER

Unlike Donald Trump, he has never clamored for attention. But around New York, Peter Kalikow is a big wheel in real estate. Now, the city's depressed real estate market has hit Kalikow where it hurts: On Aug. 20, the third-generation developer was forced to file for Chapter 11 bankruptcy protection.

Kalikow, publisher of the tabloid New York Post, lists a net worth of more than $400 million. But he has more than $1 billion in debt, and some of his bankers were unwilling to accept proposals to renegotiate a big chunk of it this summer. His unsecured creditors include Bankers Trust, due $46 million, and Bergdorf Goodman, owed $107,000 for credit-card purchases. A spokesman insists the Post will be unaffected.EDITED BY PETER FINCH


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