Tue, 04 Feb 2020 | ADMINISTRATION
The Cumberland & Westmoreland Herald, a 160-year-old East Cumbria newspaper, has been placed into administration and its directors have appointed KPMG to help it find a buyer.
The Penrith-based newspaper covers a huge part of East Cumbria, East Cumbria, including the towns of Penrith, Appleby, Kirkby Stephen, Keswick & Alston. Its most recent circulation figures show it reaching almost 11,000 people.
It was founded in 1860 and currently employs 20 staff, following 6 redundancies resulting from the administration.
It is edited by Emily Atherton, the paper’s first female editor, who was appointed last May following the stepping down of Colin Maugham, who had held the post for 25 years.
Joint administrators Howard Smith and David Costley-Wood of KPMG cited an increasing deficit in the newspaper’s defined benefits pension scheme, as well as pressures in the regional print media industry, as reasons for the administration.
Smith, an associate partner at KPMG, said: “The Herald has been a cornerstone of the community in East Cumbria for over a hundred years.”
“Our intention is to continue to trade the business for a short period while we explore options for a possible sale.
"During this time, we anticipate that two editions of the newspaper will be published under the direction of the editor.”
A member of the paper’s editorial team was quoted anonymously as speaking of a “real sense of unity” among the paper’s staff, as well as a willingness to work with anyone who has ideas for moving the company forward.
Interested parties should contact Ryan Manuel at KPMG on 0161 246 4151.
The business is a global independent all-rights entertainment distributor with theatrical, digital and physical distribution operations.
Operates in the real estate sector. Specialises in B2B publishing, training and events activities. Works with circa 300 clients, 80% of whom provide repeat business. Winner of several prestigious business awards. Strong second-tier management team. O...
LEASEHOLD
Handles all aspects of business- and consumer-focused market research. Utilises extensive bespoke facilities to carry out qualitative and quantitative research. Benefits from an excellent reputation, having been in operation for over 30 years.
LEASEHOLD
|
17
|
|
Sep
|
Buyer or tenant sought for 350k sq ft Argos distribution centre | COMMERCIAL PROPERTY
A tenant or buyer is being sought for a 350,000 sq ft Argos ...
|
16
|
|
Sep
|
Kroll to sell off assets as hotel and property companies enter administration | ADMINISTRATION
Kroll Advisory Ltd is set to start selling off assets after ...
|
16
|
|
Sep
|
Fintel sells fund management business at 4.1x profits as part of new partnership | DIVISION SALE
Fintech and support services firm Fintel has sold its fund m...
Sign up to receive our acquisition alert emails to get your FREE guide
|
10
|
|
Mar
|
£32m turnover Angus Steakhouse appeals to landlords with administration looming | ADMINISTRATION
London’s popular Angus Steakhouse chain has appealed t...
|
21
|
|
Jan
|
ProCook considering sale as it undertakes strategic review | BUSINESS NEWS
Kitchenware retailer ProCook is to undertake a strategic rev...
|
09
|
|
Dec
|
Administrators seek buyer for garden machinery firm | ADMINISTRATION
Shropshire-based garden machinery company Oakley’s has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources