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Free Aberdeen newspaper fails to find a saviour

The Aberdeen Independent has closed after failing to find a buyer.

The paper’s 30 staff left last Friday and it is understood that the business had debts of around £200,000, although it claimed its asset value at £300,000.

Eric Farquharson, managing director of the company, said interest had been shown in the title but in the end no one came forward with an appropriate bid, although there was also interest in investment from local businessmen.

“We were obviously trying hard to find a buyer, but the newspaper industry is not exactly flourishing at the moment. The interest that was shown has unfortunately come to nothing as newspaper companies seem to be concentrating more on themselves rather than acquisitions at the moment,” said Farquharson.

He also pointed out that the newspaper was still for sale, even though publication has ceased – no doubt diminishing the £300,000 asset value.

Featured by The Drum

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