Newspaper

Sheffield-based CTN chain Newsplus Group has fallen into administration.

The retailer, which had 19 stores, appointed administrators Wilson Field last month. The administrators said 10 stores had been sold prior to administration to a new company owned by the same management. After their appointment, a further two stores were acquired. However, the remaining seven stores have shut, with the loss of 39 staff.

Newsplus Group is a former The Grocer Top 50 independent.

In its last accounts, it reported a loss of £31,000 on flat sales of £12.2m for the year to 31 March 2012. It cited the closure of two poor-performing stores for the loss.