Newspaper to seek up to 25 redundancies

Winding up the Sunday Business Post would leave creditors owed €6.5m but selling it as a going concern would leave a deficit of only €640,000, the High Court was told yesterday.

The Commercial Court in Dublin appointed Michael McAteer of Grant Thornton as interim examiner to protect the publication, which recorded a €1.2m loss in January.

When questioned by Mr Justice Peter Kelly Garvan Corkery, junior counsel for the company, said that management were looking for 20 to 25 voluntary redundancies by the end of the year.