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:
Another grim day for music journalism: Team Rock (Metal Hammer, Classic Rock, Prog) in administration. Best wishes to all writers and staff.
— Simon Price (@simon_price01) December 19, 2016
Gutted to hear of the demise of Team Rock. People I love / respect got fucked just before Xmas. Help if you can. https://t.co/E2TldAHyvq
— Frank Turner (@frankturner) December 20, 2016
The worst thing, of course, is knowing that passionate music fans who also just happen to be good writers are out of work #teamrock
— Rich Goodall (@ErnstScribbler) December 20, 2016
TeamRock is in administration. A very sad day for such brilliant brands and staff (btw email has been disabled if you're trying to find us) https://t.co/FpYhEkFqcm
— Jö Kendall ⧖ (@jothekendall) December 19, 2016
I'm still absolutely horrified with the news on Team Rock closing its doors, it's a dark day.
— Adam Yull (@AdamYull) December 20, 2016
— L Barnett (@LukeBarnett87) December 20, 2016
— 𝐋𝐀𝐂𝐄𝐘 (@LaceyOfficialUK) December 20, 2016
Sad to see Team Rock go under. Metal Hammer was always one of my favorite magazines over the years. RIP.
— Santtu 'MFG' Pesonen (@TheMFG38) December 20, 2016
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.”
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.