You may have heard the news yesterday about Team Rock going under. It’s sad news for all heavy music fans around the globe. Metal Hammer has been the backbone for Metal music since it’s conception but now it seems the mega-mag is in dire straits and could possibly fold unless someone buys the company and brings it back to life.
Reportedly Team Rock are six million pounds in arrears and almost without warning the owners walked in and asked seventy-three staff to pack up and leave, without pay, just before Christmas.
Today Orange Goblin frontman started a fundraising campaign to help those who were laid off without pay. Here is the link:
Ben Ward has launched a JustGiving campaign in the hope of raising £20,000 for the staff of music publisher, Team Rock. The campaign comes following the company’s liquidation and the announcement that over 70 members of staff are to be laid off with no severance pay six days before Christmas.
Ward was quoted saying:
“Today, 73 members of the Team Rock staff were told that the company is going into liquidation and that they are being made redundant with immediate effect with ZERO pay. These are good, hard-working, committed people that through Metal Hammer, Classic Rock, Prog Rock, TeamRock Radio and more, have supported the rock and heavy metal scene in this country for decades and now we, the rock community, need to pull together to help give something back.”
73 people were laid off following the company’s collapse. Administrators were called in after the firm got into financial difficulties, and 27 members of staff in Scotland and a further 46 in London have been made redundant. Seven staff members will be retained “in the short term” to assist the administrators. Team Rock ran a stable of rock music magazines, including Metal Hammer, Classic Rock and Classic Rock Presents Prog, and featured regular content on its website, www.teamrock.com.
Administrators at FRP Advisory are now seeking buyers for the business’s magazine titles and other assets. Joint administrator Tom MacLennan said Team Rock had traded at a loss “for a significant period of time”. Adding: “The company explored every option to secure the long-term future of the business, however, the constraints on the cash position of the business were such that administration was the only viable option. The administration presents an excellent opportunity to acquire high profile rock music titles, products and brands that have a substantial global following. “