Trouble

Blackstone Group has been sued by an administrative assistant over the firm’s overtime payment policies.

British Seafood, a U.K. fish importer and distributor partially owned by 3i Group, has gone into administration after its bank lenders withdrew the company’s trade credit, which it relied on to pay suppliers.

Penton Business Media Holdings Inc., a trade magazine publisher, has won bankruptcy court approval for its reorganization plan. The deal would include up to $51.2 million in new equity from current owners, and the elimination of more than $270 million in debt. The company was created in 2006, and counts shareholders like Lexington Partners, Blackrock Kelso Capital and Apollo Investment Corp.Swoozie’s, a retailer of luxury gifts and stationery products, filed for Chapter 11 bankruptcy protection. Company shareholders include Brand Equity Ventures, Northwood Ventures and TWJ Capital.