A Crowdfunding campaign has been launched to help those who have lost jobs
Readers, fans and bands have taken to Twitter to react to the closure of magazines such as Metal Hammer and Classic Rock, after parent company Team Rock went bankrupt.
Team Rock, the company behind Classic Rock, Metal Hammer, Prog, the Golden Gods Awards and the Classic Rock Awards, went into liquidation yesterday – with staff reportedly told that they would not be paid for the month of December, just one week before Christmas.
A total of 27 staff in High Blantyre and 46 in London have been made redundant, with Administrators at FRP Advisory now seeking buyers for the titles and assets.
Orange Goblin frontman Ben Ward has launched a Crowdfunding campaign to help those who have lost their jobs.
“Today, 73 members of the Team Rock staff were told that the company is going into liquidation and that they are being made redundant with immediate effect with ZERO pay,” he said in a statement. “These are good, hard-working, committed people that through Metal Hammer, Classic Rock, Prog Rock, TeamRock Radio and more, have supported the rock and heavy metal scene in this country for decades and now we, the rock community, need to pull together to help give something back.”
Meanwhile, Frank Turner and more have taken to Twitter to mourn the loss of the titles:
Joint administrator Tom MacLennan said Team Rock had traded at a loss “for a significant period of time”.
He continued: “The company explored every option to secure the long-term future of the business, however the constraints on the cash position of the business were such that administration was the only viable option.
“The administration presents an excellent opportunity to acquire high profile rock music titles, products and brands that have a substantial global following. The brands and assets could appeal to a music publishing business looking to expand its portfolio, or an entrepreneur that sees the potential for developing the brands.”
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Metal Hammer has been a popular hard rock magazine since the monthly first launched in 1983. Team Rock, founded in 2012, then bought the group of magazines from Future Publishing in 2013.