‘No realistic expectation of becoming profitable’

IN A STATEMENT on Thursday, Landmark Media said the shareholders of Wexford Echo Limited sought the appointment of a Court appointed Liquidator to Wexford Echo Limited and that Kieran Wallace of KPMG has been appointed by the Court as Provisional Liquidator.

The statement said that despite significant cost reductions and sales initiatives, the Wexford Echo titles have continued to be loss making in recent years, with no realistic expectation of becoming profitable. It said approximately 30 staff were affected and that they had been briefed.

It said other Landmark titles are not affected by the liquidation and that the company expect that a number of production staff will be employed to carry out page production for the Nationalist and The Waterford News & Star. It said this will initially be a matter for the provisional liquidator who will explore other options including the potential sale of the titles.

Dan Linehan, Regional Director, Landmark Media paid tribute to the hard work and commitment of staff at the Wexford Echo titles.

‘ They have been part of our group for many years and they have tried very hard to make the newspaper work.

‘Regrettably, the economic climate, declining circulation and being the second title in the very competitive local Wexford market, have resulted in this situation’.