Sailing and yachting magazine All At Sea is expected to come under new ownership this week following a succession of financial difficulties, writes Ruth Addicott.
A creditors meeting to wind up the company voluntarily was due to be held this Friday when new backers were expected to put an offer on the table.
Managing director Richard Dauncey said the move would result in a restructure and put the Southampton-based title on a much stronger financial footing.
He said there would be no redundancies and all staff would retain their jobs under the new owners. Dauncey, who is a major shareholder, is also likely to remain with the title. “I want to see it structurally set up properly and see it on a sound financial footing,” he said. Dauncey said there would be minimal disruption for the title. “It won’t miss a beat,” he added.