With an original target goal of £20,000, the launch of the campaign followed the announcement that over 70 members of staff who worked for titles such as Metal Hammer, Classic Rock and Prog who all suddenly lost their jobs without severance pay with just under a week before Christmas.
“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,” says Orange Goblin’s Ben Ward, who set up the fundraiser “These are good, hard-working, committed people that through Metal Hammer, Classic Rock, Prog, 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.”
Team Rock was set up in 2012. It bought the Classic Rock, Classic Rock Presents Prog and Metal Hammer magazines from Future Publishing in 2013. Administrators were called in after the firm got into financial difficulties and traded at a loss “for a significant period of time”, according to joint administrator Tom MacLennan.
“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,” he added.
The Team Rock staff released this video yesterday:
“The administration presents an excellent opportunity to acquire high-profile rock music titles, products and brands that have a substantial global following.”
So far, the JustGiving page has received over £52,500, thanks to nearly 600 supporters. For those who want to donate to the campaign, take a look at the JustGiving page here.
© OVERDRIVE 2016