By Adam Evans
The publisher of the News Letter and the Derry Journal says workers will still get paid as it prepares to enter administration.
Johnston Press is in more than £200million worth of debt and it's hoping to be sold.
It had aimed to refinance the debt but in a statement on Friday night, the company's board said that, despite "considerable interest", none of the offers had delivered "sufficient value".
Adding, "As a result, the board has concluded that there is no value in the ordinary shares of the company.
"The board has resolved that the best remaining option is for the company and its principal subsidiaries to be placed into administration."
Teenage girl killed in road crash named as Kamile Vaicikonyte
Covid-19 inquiry ‘an opportunity for candour’ from Stormont leaders
UK and Irish ministers to meet amid row over migration
Three men set to go on trial for murder of journalist Lyra McKee
Swann refuses to rule out resigning if budget is not changed