Financially struggling British newspaper group Johnston Press, publisher of The Scotsman and The Yorkshire Post, has been bought by its bondholders after filing for bankruptcy protection. "The transaction provides the group with a substantially de-levered balance sheet, new capital and a strong platform for its staff, operations and publications," JPIMedia, a company formed by the bondholders, said on Saturday.
Johnston Press, which also publishes the "i" national newspaper, said in July it was exploring debt restructuring, before putting itself up for sale last month and then announcing on Friday that it would be bought by some its creditors.
Comments
Comments are closed.