Atlantic Canada's largest newspaper business, SaltWire Network, files for creditor protection, owing over $94 million, due to declining ad revenue and management issues.
Atlantic Canada's largest newspaper business, SaltWire Network, has filed for creditor protection, owing over $94 million, including more than $32 million to a private debt firm, Fiera. The SaltWire Group operates 23 titles, including the Halifax Chronicle Herald, and has faced financial challenges due to the decline in traditional media advertising revenue. The company is also facing allegations of senior management mismanagement, using employee pension funds for operations, and failing to remit HST.
March 11, 2024
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