Sun-Times chief optimistic about sale of company But creditors warn of a 'limited time' to find a buyer before its losses too bi

Sun-Times Media Group Chair Jeremy Halbreich sought to reassure jittery employees in a memo this week he's making progress in trying to find a buyer for the ailing Chicago-based newspaper publisher. But in a court filing last week, creditors in the Sun-Times' bankruptcy case raised concerns on the sale efforts, noting it has limited time before it can no longer sustain loss being incurred from operations. They warned unless a buyer is found soon, time can run out, or a buyer be located that will only pay a fire-sale price. The statements came as Sun-Times Media was granted an ext to Oct. 27 of mgmt.