JG Worldwide Files for Bankruptcy

Photo by AndreyPopov/iStock/Getty Images Plus/Getty Images

JG Worldwide has filed for Chapter 7 bankruptcy in the Southern District of New York.

The New York-based public relations and travel company, according to the court filing, has up to $10 million in debt and no assets for creditors. As of now, six creditors are owed more than $2 million.

One of these is Mercury Advertising, which sued the company in January. JG Worldwide, according to the suit, did not follow through with several payments on a $310,000 Promissory Note. Plaintiffs were awarded more than $220,000.

Free Luxury Travel Newsletter

Like this story? Subscribe to The Dossier

Luxury Travel Advisor’s only newsletter, covering unique destinations and product news for affluent travelers. Delivered every Tuesday & Thursday.

Note: Chapter 7 is the simplest form of bankruptcy, whereby all the debtor’s non-exempted assets are distributed to claimants.

The debt was amassed in part by several JG Worldwide affiliates including:

  • Revealed Enterprises, LLC
  • Heritage Tours USA, LLC
  • JJT Acquisition, LLC
  • Millenium Voyages,
  • City Escapes, Inc
  • Mercury Advertising Inc

JW Worldwide is a network of brands, including Heritage Tours, Revealed America and JG Black Book. It also includes The Bodhi Tree Foundation, which provides aid to grassroots charitable initiatives across the globe.

Several of the company's brands come from recent acquisitions. In 2017, Jena Gardner, founder of JG Black Book, purchased Revealed America. In 2016, she purchased Heritage Tours Private Travel. 

This is an ongoing story and will be updated over time. 

Related Articles 

CCTO and ASTA Continue Fight Against AB 5 With Joint Lobbying Day

ASTA Urges Advisors to Contact Local News Publications

Poll: How Would the California IC Bill Affect Your Business?

AB 5: ASTA Offers Five Options for California Host Agencies

Suggested Articles:

Inn at Perry Cabin reopened on June 4 with new cleaning procedures, mandatory protocols, limited capacity and new offerings. Learn more here.

Silversea on Wednesday took delivery of its 100-guest Silver Origin, which will sail year-round in the Galapagos Islands. Read more here.

Following an extensive renovation, the Saint-Tropez hotel will become part of the luxury hotel collection from January 2021. Read more here.