Tuesday, December 20, 2016

Folding magazines: Classic Rock & Metal Hammer

This would be grim news at any time, but just before Christmas amplifies the grimness: Team Rock have Team Rock, who publish Classic Rock and Metal Hammer magazines, have called in the administrators:

Thomas Campbell MacLennan, Alexander Iain Fraser and Jason Daniel Baker of FRP Advisory LLP were appointed as Joint Administrators of Team Rock Limited (“the Company”) on 19 December 2016.

The affairs, business and property of the Company are being managed by the Joint Administrators, who act as agents of the Company and without personal liability.

The Company is being managed on a care and maintenance basis only whilst a buyer for the assets is sought. Accordingly, the TeamRock website will be unavailable for the foreseeable future.

The administrators are assessing the position regarding publication of magazines. If you are a subscriber to the Company’s publications the administrators can be contacted via email at teamrock.subscribers@frpadvisory.com.
27 people in Scotland and 46 in London have lost their jobs. According to the BBC report, Team Rock had been losing money for quite a while; they're hopeful the brands will find a buyer - and so hopefully some of those staff will be rehired.