Family owned CN Group has offered the Eskdale and Liddesdale Advertiser for sale at a “nominal amount” rather than close it.
The title has a paid-for circulation of 1,200 copies in the town of Langholm in the Scottish borders and an editorial staff of two.
In a statement, the company said: “This announcement sadly places three members of staff at risk of redundancy. This is absolutely no reflection on the staff or the quality of the paper.
“Despite the best efforts of the team, the E&L has not been in profit for some time.
“We are hopeful that a community benefactor might come forward and take the paper into the future in a way that we feel unable to.
“If a buyer isn’t forthcoming we are proposing that the last edition of the newspaper will be Wednesday 14 December.”
The approach of CN Group contrasts with that of Trinity Mirror which this year closed the OneMK, Luton on Sunday, Northampton Herald and Post and the Nuneaton News without making any apparent attempt to find buyers.