This was one credit crunch development that I was very happy to read about:
Sport Media Group, the Aim-listed publisher of the downmarket Daily Sport newspaper and its Sunday sister title, said on Wednesday that it was in breach of a covenant on a bank loan thought to represent about half of its £8m net debt.
The company, which in its most recent figures had a turnover of £14m in the six months to the end of January 2008, said the bank in question, which it did not name, had granted an extension to its facility for two months.
If we are lucky, we might even see that foul rag - the Daily Sport - close for good.
11 comments:
The internet really took its market.
We are all in trouble.
Or. We are all in trouble.
No, it's "We are all in trouble", I think.
We are all in TROUBLE.
HELP!
Bailout needed!
This is fascinating: the Sport is the wank mag of the white van classes. Its decline is a sign that the working classes aren't working. They are at home. This is s sure sign of the scale of unemploment out there.
> This is fascinating: the Sport is the wank mag of the white van classes. Its decline is a sign that the working classes aren't working. They are at home. This is s sure sign of the scale of unemploment out there.
Perhaps more a sign of the spread of wireless interwank technology.
Maybe it's a sign that more white vans are being driven by members of the Purity League.
The Daily Sport is where I gen up on my economics before coming here, didn't you guess ?
Panem et Circenses ... Gordo is in trouble when the manna stops falling from the heavens.
Post a Comment