22 August 2006
Andrew Andronikou and Peter Kubik, partners at our London office, are Joint Administrators of Sports Betting Media Ltd, publisher of The Sportsman newspaper.
Comments Andrew Andronikou “We are extremely confident that the negotiations over the sale of the business and its assets, which have been taking place with a number of interested parties, will be concluded within the next seven to ten working days.”
“The support of the paper’s key suppliers and the dedication of the paper’s staff has meant that the transition of the company into administration has gone extremely smoothly. This has allowed us to fast-track efforts to secure the future of the newspaper.”
“Although some redundancies have been made, the majority of the 100 strong team will have their jobs safeguarded, as it is anticipated that we will proceed with a purchaser who is committed to investing a substantial sum towards working capital.”
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