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Publisher bought out of administration securing 23 jobs
PUBLISHING company Barker Brooks Media Ltd has been bought out of administration by Sleekside Ltd, an independent subsidiary of the Pelican Group.
Harrogate-based Barker Brooks, publisher of business magazines including the Leeds & Yorkshire Lawyer, and niche titles such as Claims magazine for the personal injury sector, also hosts events such as the Yorkshire Lawyer Awards, the Claims Management Conference and the Legal and Medical Conference and provides marketing services.
The Pelican Group, which is also based in Harrogate and produces a number of specialist publications mainly focussing on niche medical sectors, bought the Barker Brooks and its assets on the same day as administrators were appointed on November 9.
Julian Pitts and Andy Clay joint administrators, said the sale secured the future of the business and the jobs of its 23 staff.
Mr Pitts, of Begbies Traynor, said: “Over the last 13 years, Barker Brooks has established its own portfolio of high profile magazines aimed at specific professions as well as working with blue chip organisations to provide publishing and marketing support.
“The quick turnaround of this deal helped preserve the company’s high quality client list by allowing a continuity of supply and, therefore, preserving the goodwill of the business.
"It is great news that this sale gives the business and its staff a future within a complementary publishing company.”
Helen Bates of law firm Clarion, who advised Mr Pitts, added: “It was clear that, despite its financial difficulties, Barker Brooks had a viable business with some valuable assets in terms of its established magazine brands and events.
"The swift action that was taken has helped to preserve the reputation and value of these brands. For example, the company’s annual Personal Injury Awards event, which is due to take place in London on Wednesday, was in danger of being cancelled unless a deal was successfully completed last Friday.
“It is good news for the purchaser, staff and creditors that we were able to deal with the instruction and conclude the transaction in just over two days.”