BBC Homepage World Service Education
BBC Homepagelow graphics version | feedback | help
BBC News Online
 You are in: Business
Front Page 
World 
UK 
UK Politics 
Business 
Market Data 
Economy 
Companies 
E-Commerce 
Your Money 
Business Basics 
Sci/Tech 
Health 
Education 
Entertainment 
Talking Point 
In Depth 
AudioVideo 

Wednesday, 10 January, 2001, 17:46 GMT
Express web staff 'left without pay'
The celebrity magazine publisher bought Express newspapers last year
Staff at the former Express websites are seeking legal advice, as it emerges that they will not receive redundancy pay as the sites are put into liquidation.

The websites were sold with the Express newspapers by United Business Media ( then United News and Media) to celebrity and soft-porn magazine publisher Northern and Shell late last year.

Since then SP Investments, a vehicle set up by Seymour Pierce Stockbrokers, bought the websites for 1, with the purpose of finding a buyer for the businesses.

There will be a meeting with creditors on 19 January, joint liquidator Patrick Wadsted of HLB Kidsons, said.

"The companies who employ each of the staff have no tangible assets that can be realised, the funding of arrears of pay and holiday pay together with payment in lieu of notice will be done by the Department of Employment," Mr Wadsted said.

Employment lawyers say that if it could be proven that there was no realistic chance of SP Investments finding a buyer, then they could be open to claims from the staff.

The 46 staff were expecting a redundancy payment of about 20 weeks salary.

The staff have yet to hear officially from Seymour Pierce about the liquidation, despite phone calls to its offices.

Search BBC News Online

Advanced search options
Launch console
BBC RADIO NEWS
BBC ONE TV NEWS
WORLD NEWS SUMMARY
PROGRAMMES GUIDE
See also:

15 Dec 00 | Business
Express web staff hold out for buyer
22 Nov 00 | Business
OK! owner buys Express
22 Nov 00 | Business
Northern & Shell wins Express race
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories