A weekly newspaper threatened with closure is set to continue publication after a potential buyer came forward.

HTFP reported last month that the CN Group was hoping to find a “community benefactor” to take over the running of the Eskdale & Liddesdale Advertiser after putting the paper up for sale for a nominal amount.

CN said the title had not been in profit “for some time” and three members of staff were placed at risk of redundancy as a result.

However, the Carlisle-based group has now announced the Advertiser will continue publishing into 2017 after successful negotiations with a potential new owner, a Community Interest Company, based in Langholm, in the Scottish Borders, which has been specifically formed in order to run the paper.

The office of the Advertiser in the Borders town of Langholm

The Advertiser was established in 1848 and currently has a paid-for circulation of 1,200 copies in and around Langholm.

The agreement between CN and the company has yet to be formalised and is subject to adequate funding being established for the new venture.

Staff have been kept informed at all stages of negotiations and have been asked to continue to produce the paper and its website.

David Helliwell, editorial director for CN Group, said: “Our hope at the start of this process was that there would be interest in keeping the E&L alive.

“It’s been heartening to see the support for the newspaper and its staff and we will do all we can to see this potential sale through to a successful conclusion.”

Langholm businessman David Stevenson, who would be a director of the CIC, said: “Cumbrian Newspapers have been very supportive of our interest and have agreed to continue publication while we raise the funds for this venture and consult the people of Eskdale and Liddesdale on the future format of their community newspaper.”

It is hoped the process will be concluded by April.