24 July 2006
Andrew Andronikou and Peter Kubik, from our London office, have been appointed Joint Administrators of Sports Betting Media Ltd, publisher of The Sportsman newspaper.
Peter Kubik, Partner of our London Turnaround and Recovery Department, comments: “We are very hopeful of selling the company as a going concern.”
“We have the support of the group’s largest creditors and we will be continuing to publish the paper daily with distribution across the UK and Ireland.”
“The paper has quickly established a strong presence in the sports media market and, together with its recently launched website, the group does have the potential to take advantage of the fast growing online betting and spread betting markets.”
A successful sale of The Sportsman could secure the group’s 109 jobs.
The Sportsman launched in March, targeting horse racing fans as well as the new emerging sector of online sports and poker bettors.
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