The company behind the short-lived Birmingham Press newspaper folded owing £347,000 to its creditors.
CJB Media, the company established by local newspaper entrepreneur Chris Bullivant, published the Press for just six months before it closed in October.
Closure of the Birmingham Press led Bullivant to cite ‘unfair competition’ from rivals Trinity Mirror – publishers of the Birmingham Post and Mail – which he accused of unlawfully cutting ad rates for extended periods to force the Press out of business.
Liquidators Begbies Traynor wrote to the 38 creditors this week with details of what the company owed.
Holdthefrontpage.co.uk (which has a full list of creditors) reported yesterday that more than £37,000 is owned to journalists for contributing to the paper while the biggest creditors are Bullivant himself, who is owed £145,000 which he invested as a director’s loan, and North Wales Newspapers, which is owed £107,362.88.