📉 CareerBuilder + Monster files for bankruptcy protection and plans to sell its business

🏢 The company formed as a result of the merger of CareerBuilder and Monster has agreed to sell its job board operations to JobGreet

💻 It has also agreed to sell its government software services to ValSoft and the sites Military.com and FastWeb.com to ValNet

🏇 The buyers will operate as "stalking horse" bidders to avoid low bids

📊 The company has assets ranging from $50 million to $100 million and debts between $100 million and $500 million

💵 It is preparing to secure $20 million in financing to continue operations during bankruptcy

🗣️ CEO: The tough economic environment has pushed us to sell to preserve jobs and maximize value