In a statement today, the joint administrators appointed by Sport Media Group Plc, Sport Newspapers Limited and Moresport Limited, confirmed that the companies had ceased to trade with all 80 employees being made redundant.
News of the collapse of the Daily Sport and Sunday Sport publisher broke late on Friday, after an earlier announcement that trading had been suspended on the stockmarket.
The joint administrators said they will continue to seek a buyer for the assets of the companies, which include the newspaper titles.
Following the announcement the NUJ, whose representatives met with employees yesterday, said around 25 journalistic staff were among those made redundant with no notice.
The union reported that employees were told this week that the company had run out of money "despite desperate attempts to keep it afloat".
"The collapse leaves workers with no immediate income and will mean claims will have to be made to the government to secure rights to statutory payments including redundancy, lost wages, notice payment and holidays."
The union added that it is now investigating the possibility of lodging employment tribunal claims for NUJ members for a protective award to compensate staff for the alleged lack of consultation.
Members at the titles will be called to a meeting with union lawyers next week to assess their claim, the NUJ added.
"In addition, the union is appealing for freelance members who may be owed money to contact the NUJ so that their claims can be pursued with the administrators now in charge of the company's affairs".
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