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Cape Cod Broadcasting, the owner of four FM outlets in Cap Cod, a classical music network and CapeCod.com, filed for Chapter 11 bankruptcy protection on Wednesday. According to court records, the Hyannis-based broadcaster is out of operating cash, unless the court approves a loan of up to $500,000. The company has less than $50,000 in assets, but a whopping $10-$50 million in debt.

Cape Cod owns AC WQRC-FM (99.9), Soft AC WOCN-FM (104.7), Country WKPE-FM (103.9 FM) and Classical WFCC-FM (107.5), the flagship station for the World Classical Music Network.

The company currently has 32 employees. (09-24-09)

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