Saturday 24 August 2019

One party interested in Echo titles, says liquidator

By David tucker

negotIations are taking place between KPMG and 'one interested party' about the possible purchase of the assets of Echo Newspapers, which closed in June because the company was insolvent and unable to pay its debts.

'There's one interested party,' Conor O'Connor, from KPMG, told this newspaper.

Declining to identify the would-be buyer, Mr O'Connor said the negotiations centred around all of the Echo assets, including the four titles - Wexford Echo, Gorey Echo, New Ross Echo and Enniscorthy Echo.

There was no timeframe, but the ultimate idea would be 'to bring back the papers in some shape or form'.

A total of 30 people were employed by Echo Newspapers at the time provisional liquidator Kieran Wallace of KPMG was appointed by the High Court at the end of June and most have since been made redundant.

The court was told that at the end of May, the company had net liabilities of €834,000.

The company provides sub-editing and page production services for other titles in the Landmark Group: The Waterford News and Star and the Nationalist and Leinster Times and these services are continuing in the interim until a new buyer is found.

Wexford People

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