Jewish Chronicle and Jewish News collapse into liquidation
The Jewish Chronicle and The Jewish News are set to collapse into liquidation after their parent company reportedly ran out of money due to the coronavirus outbreak.
The weekly London papers said they had taken the decision to seek creditors voluntary liquidation, which is expected to be finalised in the next two to three weeks.
The titles said they would make “every effort” to publish their papers and update their websites over this period.
Staff at the Jewish Chronicle were told the company had run out of cash and that employees would be made redundant, the Guardian reported.
The two newspapers, which are the UK’s leading Jewish media organisations, announced plans to merge in February in a bid to bolster their finances.
The Kessler Foundation, which owns the Jewish Chronicle, said it was “actively working” to secure the future of the two titles following the liquidation.
Jewish News editor Richard Ferrer said it was “a sad day for 55 staff on both titles and the community they serve”.
The announcement came as the Jewish community prepares to celebrate the annual Passover festival.
The Jewish Chronicle was founded in 1841 and is the world’s oldest continuously published Jewish newspaper. The Jewish News, which is distributed free, was founded in 1997.
News organisations across the country are battling a decline in advertising revenue and circulation, with many being forced to furlough staff or cut jobs.
In a note to clients Enders Analysis yesterday called on the government to support the news industry, warning of the wider impact of a crisis that could see up to a third of journalists laid off.
“The newspaper industry supports the majority of investment in original reporting, which is part of the fabric of a healthy, functioning democracy,” they wrote.
“We fear it is this layer, the often-unprofitable work of investigations and news origination, that will diminish.”