Member Article

Rowlands appointed as North East Times ceases trading

Ten jobs have been lost as the North East Times magazine, part of the Accents Magazines Group, has ceased trading after almost 35 years of publication.

The free monthly business magazine, which featured news and advice columns, reportedly took the decision to close following mounting pressure from HMRC.

The North East Times was first published in 1981 and was distributed free of charge to businesses throughout the North East.

The magazine had a monthly circulation of 15,000, with a high percentage of AB readers. As well as its core business news, it featured a strong lifestyle element with coverage of sport, motoring, art, style and events across the North East.

It also published an annual North East Times Business Who’s Who, which provided information on companies and their contact details. Aimed at the region’s business decision makers, the annual publication had a readership of approximately 30,000.

North East Times directors are now being advised by Andrew Little and Peter Gray of Rowlands Recovery and Insolvency, part of the region’s largest independent firm of accountants.

Mr Little said: “We have taken instruction to convene a meeting in June to place the company into Creditors’ Voluntary Liquidation.

“This is a result of continued trading difficulties which resulted in Crown arrears arising after the implementation of a Corporate Voluntary Arrangement around 18 months ago. All staff have been made redundant with immediate effect.

“We will be advising the board on procedural matters and putting measures in place to ensure that the staff are treated properly and fairly.”

The final edition of the North East Times was the May edition, which was published earlier this month.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →