Daily and Sunday Sport staff lose jobs

All 80 staff at the Daily and Sunday Sport newspapers have been made redundant after a financial crisis forced the tabloids to cease publishing, the administrators of their parent company said today.

Daily Sport: financial crisis forces the tabloid to cease publishing
Daily Sport: financial crisis forces the tabloid to cease publishing

BDO, the accountancy firm, has been appointed as administrator for Sport Media Group (SMG), which suspended its AIM-listed shares and ceased trading on Friday.

The Manchester-based titles were not published over the weekend.

BDO, in a statement today, said it will look at all options for the newspapers and two adult magazines, including sale and restructuring options.

BDO is searching for a buyer for the entire SMG business, which also includes its telecoms and digital arms. It is continuing to trade.

The businesses are thought to have around 40 people working for them.

Dermot Power, BDO business restructuring partner, said "the companies have been exploring restructuring and sale options" and they are "taking all necessary steps to maximise recoveries for the benefit of creditors and would welcome early contact with any interested parties".

David Sullivan, founder of the Daily Sport, returned to help the group in 2009, lending it £1.68m, just two years after selling the tabloid newspapers. He also took on an honorary role at the company.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Newspaper ABCs: Digital figures for August 2014

Newspaper ABCs: Digital figures for August 2014

Mail Online continues to lead the websites for the UK's national newspapers, with more than 113 million unique browsers in August, the biggest risers year on year are sites for the Metro (175%) and the Mirror (99%).

Share
Trinity Mirror's Wildman poaches Yahoo's Piers North

Trinity Mirror's Wildman poaches Yahoo's Piers North

Trinity Mirror has poached Piers North from Yahoo to take the new role of digital strategy director at the national and regional newspaper publisher.

Share
Starcom MediaVest appoints Sue Frogley as global commercial director

Starcom MediaVest appoints Sue Frogley as global commercial director

Starcom MediaVest Group has appointed Sue Frogley to the newly created role of global commercial director.

Share

Get news by email