Zen JV, the owner of former job recruitment sites CareerBuilder and Monster, has received court approval to conclude its bankruptcy liquidation by paying creditors less than 10% of what they are owed.

Lenders and noteholders, who are owed nearly US$363 million, will split about US$33.6 million from the sale of assets related to the job sites, according to court documents.

Up to US$3 million will go to other unsecured creditors.

CareerBuilder and Monster shut down less than a year after being merged, with the company citing a hiring slowdown and increased competition from AI-based recruitment tools as contributing factors.

🔗 Source: Bloomberg