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Irish Post newspaper saved in Britain
A buyer has stepped in to takeover the weekly newspaper, which went into liquidation last month.
THE IRISH POST newspaper has been bought as a going concern by London-based Irish businessman Elgin Loane for an undisclosed sum.
The Post had been bought by Thomas Crosbie Holdings eight years ago but the group said in late August that it could no longer sustain “persistent trading losses” and would close the paper. Its circulation had reportedly fallen from 31,400 eight years ago to 17,100.
The weekly newspaper has served the Irish community in England for 40 years and employed 12 people at the time of its going into liquidation last month.
According to a group campaigning for the newspaper’s survival, Loane issued a statement today saying that that although it is too early to set out a detailed plan for the Irish Post, the publication will be available through newsagents again “very soon”.
Loane and his father Nelson Loane bought the Buy and Sell classified ads publication two years ago.
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