Blender about to be liquidated?

The American edition of Maxim - and its sister music-made-by-women-who-wear-bikini-tops title Blender - are being handed over to creditors of the publisher's company. Alpha Media was sold to a private equity group, Quadrangle, last year for a quarter of a billion dollars, which sounded ridiculous even in 2007, when money wasn't really worth anything and you could get a loan simply to buy a loan held by a company that didn't exist.

It's not entirely clear what a creditor would want with Blender - unless it's to seize control of the largest collection of photos of Avril Lavigne in a corset in private hands.