Publisher of the 'i' newspaper sets out rescue plan | WHAT REALLY HAPPENED


Publisher of the 'i' newspaper sets out rescue plan

Johnston Press, publisher of the 'i', The Scotsman and the Yorkshire Post, has detailed a rescue plan aimed at ensuring its survival.

The newspaper group put itself up for sale last month, but said none of the offers it received were strong enough.

It now plans to file for administration and says the firm's assets will then immediately be bought by its lenders.

If the deal is approved by the courts, it will preserve jobs and stabilise the business, Johnston Press said.

But shares in the Edinburgh-based company are now worthless and will no longer trade on the London Stock Exchange from Monday.

And some staff will see the value of their pensions affected, the firm has warned.

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