The Day by day and Sunday Telegraph and The Spectator journal are to be put up on the market after talks between their house owners and lenders collapsed.
It got here after the Barclay household, the billionaire house owners of the Telegraph Media Group, denied that the enterprise may face administration.
Lloyds Banking Group has appointed company finance advisory agency AlixPartners as official receivers for B.UK, the general holding firm managed by the Barclays, which owns the publications.
The lender will work with the receivers in a bid to safe the sale of the Telegraph and different titles to recuperate money owed owed by the community of holding corporations.
Advisers from Lazard may also oversee the proposed sale course of, Sky Information reported.
AlixPartners mentioned the day-to-day working of the publications would “proceed as regular” regardless of the method.
“The receivership over the shares in B.UK Restricted is under no circumstances associated to the monetary well being or efficiency of the Telegraph or Spectator companies and we don’t anticipate any operational modifications to the companies or their staff,” AlixPartners mentioned in a press release.
“Neither the Telegraph Media Group nor The Spectator are getting into administration.”
Members of the family Howard and Aidan Barclay have been eliminated as administrators of the enterprise, it added.
Business analysts have predicted the titles may very well be price between £500 million and £600 million.
The household mentioned that “hypothesis in regards to the enterprise getting into administration is unfounded and irresponsible”.
A spokesman for the Barclay household mentioned: “We be aware the general public assertion made by AlixPartners. We are able to affirm that discussions with Lloyds Banking Group stay ongoing.
“We hope to return to an settlement that may fulfill all events.
“As AlixPartners made clear, this example is under no circumstances associated to the monetary well being or efficiency of the Telegraph or Spectator companies.”
Sir Frederick and his twin brother, Sir David Barclay, who died in 2021, purchased the Telegraph newspapers in 2004 for £665 million.
Press Acquisitions is now run by Sir David’s son, Aidan; different pursuits owned by the household embody courier Yodel and on-line retailer Very.
