Observer Standard Newspapers Ltd has been bought out of administration.

The Worcestershire-based publisher has been sold for an undisclosed sum to Bullivant Media Limited, a company associated with Chris Bullivant, previously chairman of Observer Standard Newspapers.

John Whitfield, of administrators Grant Thornton, said: “We are pleased to have achieved a successful going concern of the company: during the administration five editions of each of the nine titles owned by the Observer Standard were published and all of the 150 strong workforce remained employed.”

Chris Bullivant, of Bullivant Media Limited, said: “We are delighted to have achieved this purchase from the administrators which allows us to continue to offer our local readers and advertisers an excellent service and product.”

Observer Standard Newspapers Ltd was founded by Mr Bullivant in 1989 and publishes weeklies, magazines and websites.

The company was put into administration last month. It claims to distribute over 500,000 full colour copies of its papers to 850,000 readers across the West Midlands, Worcestershire, Warwickshire and Gloucestershire.

Comments

Fred & Florence (15/04/2009 13:37:27)
I am very pleased for all employee’s and management at Bullivant Media Ltd. I am sure you have all had a very worrying month. At last a happy ending in an industry that seems plagued by a constant stream of bad news. Congratulations to all inc. the Bullivants. Long may your good fortune continue.

Badger (15/04/2009 13:45:41)
I look forward to this story getting equal prominence in the Birmingham Post and Mail tomorrow as the bitter stories of OSN’s ‘catastrophic collapse’

the mole (15/04/2009 15:26:02)
Quite right Badger! And perhaps those nice people from Midlands Today will be outside the offices again to offer their congratulations.

Chris Bullivant Snr. (15/04/2009 15:49:24)
Thank you for your well wishes Fred and Florence (I hope Fred is’nt my 91 year old Dad, Fred and Forence is’nt my Granddmother, Florence, who would be 115 if still alive) More importantly, I would like to thank my Directors and staff for performing so well through administration, after 39 years in this business, their professionalism continues to amaze and delight, thanks again

badgerbiter (15/04/2009 15:55:02)
Good news all round – apart of course for the creditors who will undoubtedly get zilch from this cozy little deal.

Badger (15/04/2009 16:22:35)
Touche badgerbiter. However the main creditors in any company are its staff so by keeping their jobs and being paid through administration they are the main benefactors of this deal which is, for once, a real success story in the ‘credit crunch’. Other creditors like advertisers will, ultimately, continue to reap the rewards of competitive advertising rates too. This would have not been the case if OSN collapsed into the abyss as the monopoly of bigger media groups would have been able to drive up their rates without challenge.

Anon (15/04/2009 16:28:04)
Great news! The Bullivants are the nicest people to work for, I should know as I have been here for over ten years! Their consideration for their staff during this difficult time has been touching. I hope to work for them for another ten years. Congratulations Chris Snr, Pat, Chris and Clare.

bodger (15/04/2009 16:29:01)
If the staff are the main creditors, then what confidence can they have that things will be run differently in the future? Allowing the man behind one company in administration to buy it back to keep people in a job is, I think, very worrying. Amazed at the directors’ professionalism? How about amazing us by telling us what you intend to do differently

Anon (15/04/2009 16:31:50)
Badger, how can an advertiser at a newspaper be a creditor? Surely the creditors are the ones owed money from a problem business, not the ones who are meant to pay for the services of said business?

badgerbiter (15/04/2009 16:35:18)
An interesting point of view Badger. Will be fascinating to see whether potential advertisers share your laissez-faire attitude to their money and how keen they are to hand it over to the same owners and staff who have already lost it once.

Roy Crusher (16/04/2009 10:08:45)
This story tells me nothing. What is the difference between Observer Standard Newspapers Ltd and Bullivant Media Limited? Perhaps some of your correspondents below could enlighten me.

John (16/04/2009 11:29:50)
Was the company bought out of administration with or without its debts? If without, then the printers and distributors will not get their money. Nor would the Inland Revenue (HMRC), local authority and utility companies. If with, how can you run a debt-laden business which has already gone under exactly because it could not service those same debts? The Companies Act is a wonderful thing to behold.

Annoyed (16/04/2009 13:37:56)
I am slightly annoyed at Chris Bullivants thank you in todays press…
The comments about their competitors and that this is not the outcome that the cometitors would have wished for… I totally disagree, staff at the said competition have acted with complete professionaliam at all times and NOT sold advertising off the back of OSN going into administration. It was sad to hear that people may loose their jobs and a long standing paper would go when services town and citys for a number of years!!

the mole (16/04/2009 14:00:04)
Poor spelling, awful grammar and a woeful disregard for factual understanding – is this a load of hacks arguing or what? Please check your copy before sending.

Anna Conder (16/04/2009 14:39:42)
So glad you’re back! We have missed those puffs for advertisers.

John (16/04/2009 15:08:19)
Dear Mole: I do hope you are not tarring me, a long-serving journalist ex nationals, BBC, etc, with the same spelling and grammar brush as others who write as they speak, so to speak. Though I do agree; if you cannot write correctly you shouldn’t be doing it for a living.

Non Pompous One (16/04/2009 15:15:05)
I iz in agrement wiv dat man ya get me. x x

Clive (16/04/2009 16:11:43)
Where did he have a go at his rivals? I suppose we should all be grateful he wasn’t able to buy more papers in the Midlands (remember his huffing and puffing to explain why he didn’t follow through on his plan to buy the Post and Mail?)

SMJ (16/04/2009 16:47:02)
As I understand it Observer Standard Newspapers has always been profitable. It was their finacing company that pulled in their debts literally overnight forcing them into receivership. I know the Bullivants personally and can assure you they would never walk away from a debt. This is why I believe they forked up the money themselves and are back at the helm of the now Bullivant Media. Those saying anything to the contrary – do not know Mr Bullivant. It’s not his style to walk away and I wish him all the best.

Richard Fritterman (17/04/2009 12:07:04)
Eight pages with news on in the latest edition of the Observer. Would we have missed much?

Not Impressed! (17/04/2009 14:57:21)
While pleased for the hard working, badly paid staff, are to keep their jobs, sure even they will be asking questions of the Bullivant family who managed to squeeze every last drop of income out of the company to provide the ready funds to buy it back. Maybe a little thought for the old company’s creditors, of which I understand there is a very large one all close to our hearts! Hopefully Mr Bullivant will desist from arriving at his old and new company offices in his Rolls Royce (was it a company car?) . . . it’s not good for moral John in this day and age! We will watch with interest!

Sulliman (22/04/2009 17:58:27)
Well well well. As expected bitchy comments here, from I suspect jealous and frustrated competitors who thought we were buried for good. It just goes to show how succ
esful our business has been in the past to draw such childish tittle tattle. All I can say is, you had best sharpen your pencils because as soon as things start to turn around and people start to spend once more, there will be a leaner meaner fighting machine on the block ready to capitalise on the demise of the arrogant debt laden giants! I wonder who will be first to fall?