The firm announced on Tuesday that it has initiated a Chapter 11 process to facilitate the sale of its operations. According to the bankruptcy filing, it estimated liabilities between $100 and $500 million, with assets ranging from $50 to $100 million.
CareerBuilder and Monster both emerged during the 1990s, helping to popularize online job searching as internet usage became widespread. Once owned by Apollo Global Management, CareerBuilder faced challenges throughout the Covid-19 pandemic, witnessing a drop in subscription renewals while new marketing strategies strained revenue and profits.
In 2023, the company extended the maturity of its first-lien loan to 2026. A year later, it modified the debt terms to permit partial interest payments through additional debt.
Eventually, CareerBuilder merged with Monster, with shareholder Randstad NV acquiring a minority stake in the new entity, but liquidity issues persisted. By the end of June 2024, the company had only $6 million in its balance sheet, as reported by S&P Global Ratings in October.
The company reduced its workforce in response to ongoing competition in the job-advertising sector, according to S&P, while the industry is expected to be impacted by advancements in AI.
As part of the bankruptcy plan, the jobs board segment will be sold to JobGet Inc., while Valnet Inc. is set to acquire Monster Media Properties. Valsoft Corp. will take over Monster Government Services, which offers management software to state and federal governments. These firms are the stalking horse bidders, and the completion of asset sales will depend on higher and better offers.
CareerBuilder + Monster also announced it is in discussions with Blue Torch Capital for up to $20 million in debtor-in-possession financing. Workforce reduction is also included in the plan, as stated by Chief Executive Officer Jeff Furman.
Bloomberg News reported last week that the venture was collaborating with advisers on a potential bankruptcy filing while considering multiple restructuring options. CareerBuilder’s revenue dropped nearly 40% last year, according to Moody’s Ratings.
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First Published: Jun 25, 2025 8:39 AM IST
