The Sunday Tribune has been placed into Receivership with Independent News & Media (INM) withdrawing its financial support for the newspaper from the end of February, declaring that the business was no longer viable. INM owns 29.9% of the newspaper which is reported to be losing approximately €2.75 million a year. A spokesman for INM said the ‘Sunday Tribune’ was the last of the non-profit making titles in the Independent group. “All of our other titles are very profitable,” he said.

It is understood that, while efforts are under way to find a buyer for the business, the newspaper will not be published during the receivership because of concerns that the receiver could be held liable for libels inadvertently published during the receivership.

The Sunday Tribune is the most recent high profile Irish newspaper to face the risk of closure as a result of declining sales and reduced advertising.  Others have implemented restructurings or closed.