KPMG called in to restructure Johnston Press

KPMG called in to restructure Johnston Press

Big Four firm to focus on refinancing bank facilities at newspaper group

KPMG has been appointed to restructure the debts of regional newspaper group
Johnston Press.

The immediate task is to refinance Johnston’s bank facilities which are due
to expire in September 2010.

Like many media outlets, the publisher of the Scotsman and the Yorkshire Post
has suffered a sharp decline in advertising revenue in line with slower UK
economic growth.

The group says its focus is on cutting costs and repaying debt. Net
borrowings stood at £465m last November.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

4m Alia Shoaib, Reporter
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

11m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

1y Emma Smith, Managing Editor
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

2y Richard Crump, Writer
FRP Advisory hires new partner from KPMG

Accounting Firms FRP Advisory hires new partner from KPMG

2y Richard Crump, Writer
Former Torex CEO sues KPMG and RBS

Accounting Firms Former Torex CEO sues KPMG and RBS

2y Richard Crump, Writer
BHS enters administration as Duff & Phelps fail to find suitable buyer

Accounting Firms BHS enters administration as Duff & Phelps fail to find suitable buyer

2y Fraser Simpson, Reporter
PwC questioned over BHS ‘going concern’ audit

Accounting Firms PwC questioned over BHS ‘going concern’ audit

2y Chris Warmoll, Writer