Read more : Sunday Tribune newspaper is running out of time
Ireland’s “Sunday Tribune” has been forced to make its entire workforce of 43 people redundant. A receiver, assigned earlier, was unable to secure new investments which could have saved the Sunday newspaper.
On Monday afternoon redundancy notices were given to all the newspaper's staff. The newspaper had taken a four-week hiatus in production for the month of February. It has now been confirmed that the “Tribune” will not return to production.
In the note received by staff, from the company's receiver Jim Luby, he said a "small number of inquiries" had been received but "no definite offers.”
As of next Monday all the newspaper’s staff will be unemployed, but the process of looking for a buyer for the company will continue. If an investment is found publication of the newspaper could resume and the current staff would be notified.
On February 1 the newspaper publicly announced that it was in receivership. The announcement was spurred on by the withdrawal of commercial support from Independent News & Media. The company had held a 29.9 percent stake in the paper.
The circulation of the paper had fallen in the last number of years. During the first six months of 2010 the circulation figures showed average sales of 54,000. This was a 17 percent fall over the past two years.
Cheapest Irish pub in Ireland sells for $50,000