Ironic that the headline of Sunday’s Philadelphia Inquirer was “A Measure of Relief.”

Philadelphia Newspapers L.L.C., which not only owns the Inky but also the Daily News and philly.com, filed for Chapter 11 bankruptcy protection today. The company faces $390 million of debt. TTN has learned an e-mail has been sent to staff members.

The company attributes “advertising downturn, rising costs for newsprint, and the migration of readers to the Internet” as causes for the profit loss.

However, the filing will not affect the daily production of the paper. A restructuring of the organization is expected.