Food52, a popular recipe and cooking community website, filed for Chapter 11 bankruptcy in December and has received permission from a bankruptcy court judge to ask its creditor to approve its liquidation plan. The company will be broken up into three companies, with America’s Test Kitchen (ATK) set to acquire certain assets of Food52. If creditors approve, the brand’�s assets will be split among three companies. Food52 had been struggling financially due to years of financial challenges tied to digital media monetization and layoffs. The bankruptcy filing was triggered after its lender removed funding and removed cash from its accounts, leaving the company without liquidity.