The Sportsman, the betting newspaper launched in March, has made five redundancies and administrators who were called in to run the paper last month expect to make another announcement within seven to 10 working days regarding the future of the title.
According to the UK Press Gazette, Simon Goodley and Geoff Marsh from the sports desk are the journalists to leave, while three other job cuts include one receptionist and two other administrative positions.
Acting managing director Mark Maydon has left and Press Gazette understands that Robin Holt could be appointed as new managing director when the next announcement is made.
In a statement one of the administrators, Andrew Andronikou of chartered accountants UHY Hacker Young, said: “We are extremely confident that the negotiations over the sale of the business and its assets, which have been taking place with a number of interested parties, will be concluded within the next seven to 10 working days.
‘The support of the paper’s key suppliers and the dedication of the paper’s staff has meant that the transition of the company into administration has gone extremely smoothly. This has allowed us to fast-track efforts to secure the future of the newspaper.
‘Although some redundancies have been made, the majority of the 100-strong team will have their jobs safeguarded, as it is anticipated that we will proceed with a purchaser who is committed to investing a substantial sum towards working capital.”
Read the UKPG report here.