This content is not available in your region

Struggling publisher Johnston Press puts itself up for sale

Text size Aa Aa

LONDON (Reuters) – Johnston Press <JPR.L>, the publisher of The Scotsman, The Yorkshire Post and “i”, put itself up for sale on Thursday after it reviewed its finiancial situation, which includes a large debt repayment due next year.

The company said in August it was trying to grapple with tough market conditions affecting the performance of its newspapers and websites, as well as pension obligations and the weight of its debt.

It has 220 million pounds of borrowing due for repayment in June.

Shares in Johnston Press, which reported a 10 percent drop in revenue to 93 million pounds in the six months to end-June, have fallen 78 percent in the last 12 months.

They closed on Wednesday at 3.245 pence, valuing the company’s equity at 3.4 million pounds.

(Reporting by Paul Sandle; editing by Sarah Young)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.