The Ballou Wright building on 12th Ave. (Image: Hunters Capital via Facebook)
According to documents filed in federal bankruptcy court, Creature owes money to 50-100 creditors, most of which are other media companies. ESPN Magazine, AOL, and Vox Media are each owed more than $100,000, according to Creature’s filings. Creature reported $8.6 million in gross revenue for 2015 and currently has $600,000 in assets.
The May 31st bankruptcy filing came shortly after TIME, Inc. filed a civil lawsuit against Creature in a New York U.S. District Court.
Creature is creative agency focused on “design, advertising, and innovation,” with past clients including the Space Needle and Starbucks. In May the company leased its office in the 12th Ave Ballou Wright building to the production outfit behind The Real World. The reality show is currently shooting its 32nd season the streets of Capitol Hill.
Bankruptcy paperwork notes Creature’s sublease to the Real World production company, but does not specify the amount. The Ballou Wright building is owned by Capitol Hill’s Hunter’s Capital.
Creature co-founder Matt Peterson previously told CHS that the firm decided to lease its space as it was downsizing and looking for a smaller office space. Creature, which had previously employed dozens in Seattle, moved its 15 employees to Pioneer Square in May.
Why is it necessary to highlight the misfortune of a bankruptcy into your news reporting? How about saying that the entity “filed for bankruptcy and we’re always sorry to see a business leave the neighborhood?” It’s cheap and sleazy and National Enquirer-esque to lay out all the gory details.
I would guess because since The Real World is a newsworthy piece, and they reported on it before, and noted that the space was leased from Creature – that it would make sense as a followup. CHS reports on the comings and goings of many businesses on the hill.
Hardly sleazy – these are court filings and the details here aren’t personal, ugly, or seemingly unique.
CHS has given insightful details when restaurants tank – isn’t it OK for the public to see the challenges of running a business?
how kind of you to label the bankruptcy filings of a production company that pumps out corporate propaganda as “misfortune”.
where were your tears when Creature displaced the not-for profits and small businesses that previously occupied that building?
To be fair, Creature didn’t displace the previous tenants; the owners of the building made the decision to change the makeup of their building.
That history does add a sense of schadenfreude to an article about the new tenant’s current financial woes, however. Coming on the heels of another article about Tavern Law’s troubles, and right now the new 12th Ave looks a little less glossy than before.
Sorry, but my spouse is an interior designer, so this bankruptcy was absolutely news worthy in our household. Nothing ‘National Enquirer’ about this story, other than you trying to determine what is and isn’t worth reporting on. Thanks, CHS, we DID want to know this!