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Business

160-year-old weekly at risk

Almost 30 jobs could be at risk after 160-year-old newspaper goes into administration following longstanding pressures.

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Six members of staff have already been made redundant

The independently owned Cumberland and Westmorland Herald has described its future as hanging in the balance as it appoints joint administrators.

Six members of staff have been made redundant already, and the remaining 20 are waiting to hear about the future of their jobs.

Administrators, Howard Smith and David Costley-Wood of KPMG’s restructuring practice are currently investigating a potential sale for the title.

...longstanding pressures facing the regional print media industry were behind the directors’ difficult decision to place the company into administration

Howard Smith, associate partner of KPMG and joint administrator describes the newspaper as having been a cornerstone for the community for over a hundred years.

He says: “Unfortunately however, an increasing deficit in the company’s defined benefits pension scheme, in addition to the longstanding pressures facing the regional print media industry were behind the directors’ difficult decision to place the company into administration.”

The business will continue to trade while the administrators search for a buyer and will publish a further two editions under direction of its editor.

First established in 1860, the Herald is Cumbria’s oldest independent weekly broadsheet newspaper. It covers the majority of East Cumbria, including Appleby, Kirkby Stephen and Keswick & Alston, from its base in Penrith.



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