Sport Media Group, the owner of the Daily Sport tabloid, has gone into administration.
Dermot Power and Patrick Lannagan, business restructuring partners at BDO LLP, have been appointed as joint administrators and will be responsible for seeking a buyer for the group's subsidiaries Sport Newspapers Limited and Moresport Limited.
The group said that its digital content provider, Netcollex Limited, and its telecoms provider, Telecom 2 Limited, are continuing to trade normally outside of administration, although both are still up for sale for potential buyers.
Mr Power, said, "The Companies have been exploring restructuring and sale options and regrettably the cash flow problems being experienced as a result of historic trading difficulties, coupled with limited interest from third party investors or an acquirer for the businesses, have resulted in the Companies ceasing to trade. The Joint Administrators are taking all necessary steps to maximise recoveries for the benefit of creditors and would welcome early contact with any interested parties."