It has emerged that struggling Sunday Business has been forced to apply for administration after being issued with writs by two advertising agencies.
If the application is successful a court will appoint an administrator to steady the newspaper’s finances and seek new investment. If it fails, the paper could face bankruptcy. Sunday Business told MediaTel that it is currently seeking financial backing from an overseas media group as well as a UK company.
Arc Advertising and Knight Leach Delaney have both issued writs against the paper, which are believed to concern unpaid bills. Sunday Business launched in April and has consistently failed to hit circulation targets of 450,000. Its first issue circulation was around 145,000 but is now believed to be around 40,000.
Sunday Business: 0171 468 6000
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