Award-winning student newspaper The Journal is forced into liquidation
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Edinburgh-based student publication, The Journal, has gone into liquidation after it was unable to pay its debts. The independent newspaper was originally produced by students at seven higher and further education colleges and universities as a fortnightly print publication, and won a host of awards from NUS Scotland, Scottish Student Journalism, and The Guardian student journalist awards. At its peak the paper had a print-readership of around 10,000 and former contributors include current SNP MP, Alex Salmond. The company, registered under The Edinburgh Journal Ltd, was officially issued with a winding up order by the Edinburgh Sheriff Court on the 23rd July 2015 due to the share capital of the company being unable to pay its debts. Liquidator Grant Thornton UK LLP has been appointed Interim Liquidator and in a statement confirmed that: “A meeting of creditors was subsequently held on 18th August 2015 and Stuart Preston was appointed as Liquidator of the Company. “The liquidator is investigating the affairs of the Company in order to achieve the best possible outcome for creditors and other stakeholders.” The newspaper did not file its tax returns two months beforehand on 23rd May 2015, according to Companies House. The murmurs around the financial stability of the company are however, not a recent revelation. The decision of the Sheriff to liquidate the company comes as the newspaper itself discontinued two applications to be struck off the government register and dissolved in both August 2011 and August 2012. Yet Aftab Ali, the last Editor-in-Chief of The Journal, praised the publication as an entertaining and informative platform for the student community. “The Journal was a respected and standout publication and, with a solid and dedicated team, it showcased excellent content from contributors from all over the country. It’s a shame to see it go. “I hope it will be remembered for its excellent journalism and dedication to the student community.”
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