began a 30-day consultation process with its employees in mid-January on a proposal to close the business following its failure to meet performance targets.
The company, which allows consumers to compare available products in energy, home phone, mobile and broadband and then change suppliers, has blamed its poor performance on a "significant reduction in the price comparison market for switching energy over the past 12 months".
All of SimplySwitch's 65 employees are at risk of redundancy but a final decision is not expected until February 20.
Associated Newspapers, the newspaper division of Daily Mail General Trust, bought SimplySwitch in August 2006. The transaction valued the company at £22m, with cash payable on completion of £16.5m.
Andy Hart, managing director of Associated Northcliffe Digital (AND), said: "Last year saw a sudden and unexpected fall in the energy price comparison market.
"In any portfolio-based business the size of AND, there will always be business winners and losers. We have done everything we possibly can to make SimplySwitch profitable and have reviewed all strategic options to minimise redundancies and secure the future of the company."
DMGT wrote-off £53m on poor-performing online businesses, including SimplySwitch, in its half-year results and therefore no further charge is believed to be required.
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