The Financial Mail on Sunday has closed its news-stand consumer magazine Money due to lack of sales and advertising revenue, writes Ruth Addicott.
The posts of deputy editor and designer have been made redundant. Owner Associated Newspapers is trying to find an alternative job for editor Claire Oldfield. Staff were said to be “very disappointed” and had no idea a closure was imminent.
An insider said sales had been disappointing over the past year and the title had been hit by the ad recession affecting the financial sector. “It was very professionallooking, but the market couldn’t sustain it,” a source said.
Sales may have been affected by the positioning on the news-stand, which was not as prominent as some would have liked.
The title branded itself as an “essential guide to managing cash”, combining finance with lifestyle.