Local newspaper collapses with debts of £40,000

The publisher of a free seaside newspaper has collapsed with debts of £40,000.

Seeker News stopped trading last week when the company went into administration with the loss of four jobs.

The newspaper was published fortnightly and was based in Bournemouth.

Seeker Photography, a PR and photography company launched the title initially as a monthly magazine before moving to a fortnightly newspaper in May.

Proprietor and editor Steve Cook told Hold the Front Page: “It is with great regret we that we’ve taken the decision to end publication of Seeker News with immediate effect.
“The support we’ve received from readers and advertisers has been wonderful and is greatly appreciated.

“Unfortunately the industry-wide decline in revenues from advertising within print media meant that although he content and design of the paper delivered everything we set out to achieve, the commercial side of the operation struggled to keep pace with the growth of the publication.

“We have exciting plans for the future which I hope to confirm shortly.”

The title had a print run of 10,000 and was distributed in cafes, hospitals, supermarkets and leisure centres around Bournemouth and Poole.

It is understood the company will be liquidated next month.