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.
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