Publishers of recently-launched betting daily newspaper The
Sportsman have entered into administration.
Andrew Andronikou and Peter Kubik, of UHY Hacker Young have been appointed
administrators to Sports Betting Media.
Kubik hopes that a successful sale of the business could secure the 109 jobs
at the business, adding that the paper will continue to publish daily ‘with the
support of the group’s largest creditors’, understood to be private investors
who backed the publishers.
Kubik told Accountancy Age that a possible avenue for the sale of
the business could be rival publishers, and he had already received ‘some
interest’ from parties.
He will publish the paper ‘to the end of the month and beyond’ while looking
for a sale, and hoped it could be completed in three months ‘or earlier’.
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