One of Scotland’s best-known press agencies has been closed down, with immediate effect.
Edinburgh-based Newsflash has shut, with the loss of five jobs. Owner, Frank Gilbride, blamed poor fees and increasing competition. “This is due to market conditions over the last couple of years, with little prospect of matters improving sufficiently to make the company a viable proposition on an on-going basis,” he told allmediascotland.com.
Formed in 1993, originally operating in Stirling, Newsflash at one point employed almost 20 staff. Gilbride – a former Sun and Daily Mirror journalist – is also seeking to sell his share of another agency, Coatbridge-based Press Team, which he co-owns with Bart Dickson.
Yet another Gilbride agency, Belfast-based Cover Story, he says he will be seeking to “take a back seat with”.
He says he is “endeavouring to meet all due wages” to Newsflash staff. He added: “I would like to wish the staff all good luck and thank them for all the hard work over the years.”
But he is not set for retirement, quite yet. “I have a number of projects I’d like to pursue,” he said.
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