The Sunday Tribune, the Irish quality newspaper partly owned by Independent Newspapers, has closed shop, less than a month after a receiver was appointed. Jim Luby, the receiver, wrote to the 43 staff on Tuesday telling them they would be made redundant at the end of the month.
It brings to an end a chequered 31-year history for a paper that attempted to inject new life into a newspaper sector dominated by two traditional Irish papers, the Sunday Independent and the Sunday Press. The company went in to receivership on February 1 after 29.9 percent shareholder Independent News and Media said it would no longer fund the business.
It is believed to be owed EUR 40m from the Sunday Tribune. Luby said some expressions of interest had been received but no definite offers. The title was losing about EUR 3m on an annual basis and the situation had worsened after the failure of its relaunch as a tabloid last year.
