Irish Post saved by Loot owner Elgin Loane

The Irish Post is expected to be back on newsstands within a fortnight after being bought by Irish businessman Elgin Loane.

Thomas Crosbie Holdings closed the London-based weekly newspaper for the Irish in Britain on 19 August.

But following formal liquidation, Loane – who owns classified ads magazine Loot – filed a winning bid to buy it.

He said: “The Irish Post has a long and proud tradition of serving the expatriate community in Britain for over forty years and must be continued for the benefit of both the incumbents as well as the growing population of Irish people heading to Britain.”

Irish Post journalist and Save the Irish Post campaign member Fiona Audley said: “This is a victory for the whole community. Now we are planning the future, which will see a bigger and better Irish Post coming out for the readers.’

Labour MP Stephen Pound, who supported the campaign to save the Irish Post, said: ‘This is brilliant news. The Irish Post offers a window onto the Irish community that needs to be kept on. Now it needs to be supported.

‘There has been a gap in the week without the paper, so it is good to know that the paper is back.”

Ten jobs were lost as a result of the closure of the Irish Post, which was launched 41 years ago.

It was said to be a victim of the economic downturn and reduced advertising. Circulation was just under 19,000 copies a week.

It is expected that the Post will be back on the streets in ten days’ time, and staff are being rehired.

Loane bought Loot magazine from Daily Mail and General Trust last year via his business Printing Investments Ltd.

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