Substantial interest in ‘Business Post’
Mr Justice Peter Kelly confirmed the appointment of Michael McAteer of Grant Thornton as examiner and said the protection of the court continued to be afforded to the company.
The judge said the newspaper is unfortunately insolvent and in the unhappy position shared by several other companies which have been assailed by the economic storms which have buffeted the country for many years. The newspaper, he said, had seen dramatic downturn in its fortunes and the primary cause was the drop in advertising revenue, which fell by 68% in a five-year period, as well as a drop in circulation revenue.
