Affinity Group Holding lacks funds to make Aug. 15 interest payment

By Caroline Salls

Pittsburgh, Aug. 13 - Affinity Group Holding, Inc. lacks funding to make the $4.8 million interest payment due Aug. 15 on its notes, according to a 10-Q filed with the Securities and Exchange Commission.

The holding company said wholly owned subsidiary Affinity Group, Inc. is not currently able to pay dividends or provide other funds to make the interest payment.

Although Affinity Group Holding's parent, AGI Holding Corp., has made capital contributions to allow the company to make past interest payments, Affinity Group Holding said it has not received a commitment to provide funding for the Aug. 15 payment.

Affinity Group is a Ventura, Calif.-based direct marketing company.

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