Regional newspaper publisher slips into administration

Press

Sarah Johnson

March 10, 2009

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Regional newspaper publisher slips into administration

LONDON - The Observer Standard Newspaper group, the regional publisher of free newspapers, is searching for a buyer after it has fallen in to administration.

The company publishes newspapers in Warwickshire, Worcestershire and the West Midlands. It also publishes online news sites and local magazines.

A spokesman for the group said it has been suffering from the decline in advertising in the region, particularly residential property advertising.

Distribution of this week's newspapers will go ahead as usual. No redundancies have been made and the company has said it is not expecting to make any in the immediate future.

Its annual turnover is £9m per and the company employs 150 people. The employees are based at the Redditch head office and a further nine sites in the south Midlands.

John Whitfield and Neil Tombs, partners in Grant Thornton UK are handling the administration process.

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