Buyer sought for C & W Herald
Published 13:59 on 5 Feb 2020
Sad news this week that the Cumberland & Westmorland Herald has gone into administration. Staff at the Penrith-based title were told on Monday afternoon of the move, which has been blamed on an increasing deficit in the company's defined benefits pension scheme along with 'longstanding pressures facing the regional print media industry'.
Established in 1860, the Herald employs 26 members of staff six of which were made redundant following the appointment of Howard Smith and David Costley-Wood of KPMG as joint administrators to the newspaper company's directors. Mr Smith, associate partner at KPMG and joint administrator, said: "The Herald has been a cornerstone of the community in East Cumbria for over a hundred years. Unfortunately, however, an increasing deficit in the company's defined benefits pension scheme, in addition to the longstanding pressures facing the regional print media industry were behind the directors' difficult decision to place the company into administration. Our intention is to continue to trade the business for a short period while we explore options for a possible sale. During this time, we anticipate that two editions of the newspaper will be published under the direction of the editor."
This means that this week and next week's paper will be published and if a buyer is not found, that's it. So until next weekend, the Herald is still in businesss. The paper has ask asked for letters of support from the local community by Friday, February 7, as evidence for potential buyers. A letter has been sent on behalf of the club, see below. Members could also send personal letters to News Editor Emily Atherton - EmilyA@cwherald.com
4.2.20 From Ullswater Yacht Club
On behalf of all the members of Ullswater Yacht Club I would like to express our sadness at the news that the Herald is under administration. We sincerely hope that it can be saved. The Herald has been a great supporter of UYC since the club was formed in 1958. In March that year the paper carried an advert from founder members Harold Couzens and Joe Harrison asking anyone interested in forming a sailing club on Ullswater to get in touch with them.
There was a huge response, thanks to Herald readership, and by July that year the club had its first race, reported on the Herald, of course. Since then it has been with us in good times national awards, successful events, international success of our members and bad the devastating floods which have twice hit us very hard reporting our news to the people of the area.
It is the Herald that has helped us feel part of the local community and part of the beautiful area that we all love. The paper has carried so many stories and pictures about us over the years and always done it with the utmost professionalism. The people of the Penrith area have been very lucky to have a truly local paper and we would like to think that a way can be found for them to continue to be able to read it every week.'
Last updated 13:59 on 5 February 2020