The company which owned the Oxford Courier and Oxford Journal has gone into administration.

Clive Everitt, of Oxford accountants Shaw Gibbs, has been appointed administrator of Courier Newspapers (Oxford) Ltd.

Under a so-called "pre-pack" agreement, publishing manager Howard Taylor has a new company, Biz Publishing Ltd, which has bought the goodwill and assets of Courier Newspapers (Oxford) Ltd.

Howard said: "The key thing is that all of our titles are continuing to be published."

The Courier group's 24 staff have been taken on by the new company.

A statement from Shaw Gibbs Insolvency & Corporate Recovery Services said: "Subsequent to the Administration the business and assets of Courier Newspapers Limited, excluding book debts, was sold to Biz Publishing Limited of Griffins Court, 24 – 32 London Road, Newbury, Berkshire RG14 1JX.

"The sale has achieved the continuation of the business, a maximisation of value for the creditors of Courier Newspapers Limited and has also secured the jobs of the employees of Courier Newspapers Limited all of whom have had their contracts of employment transferred to Biz Publishing Limited."