The 12-strong team on the Safeway magazine is in a process of consultation following its closure.
Redwood, which held the contract to publish the title, is trying to find alternative jobs for staff and said it was unable to confirm the exact number of redundancies until the end of July when the consultation period ends.
The closure follows the takeover of Safeway by Morrisons. The company has introduced more price cuts in store on a weekly and fortnightly basis and said the magazine’s lead times did not fit with its strategy.
The team were said to be upset and surprised by the move, even though its future has been hanging in the balance since the takeover last year.
The Safeway Magazine had the seventh highest circulation figure in the UK with an ABC of 1.5 million. It was Redwood’s second biggest selling title after Boots Health & Beauty.
It took a lifestyle approach to features incorporating recipes, health and beauty and home economy tips, competing alongside the Asda magazine and Somerfield magazine which had respective ABCs of 2.2 million and 1.1 million.
Keith Grainger, chief executive of Redwood, said: “Naturally we are disappointed, but Morrisons’ decision is understandable in the circumstances.
These things have to be put into perspective.
Redwood is a strong business with great clients and an exciting prospect list.”
By Ruth Addicott