Plans to recruit hundreds of journalists for a new venture aiming to be “Scotland’s largest multimedia platform” have been abandoned after funding for the project collapsed.

HTFP reported in January that a series of job advertisements had appeared online for “dynamic new media brand” Scottish News, with the ads stating the project was looking for a chief editor and 300 multimedia journalists to cover every area of Scotland.

Job offers had already been made to some of the candidates who responded to the ads, and at least one is understood to have resigned from another job in order to take up the offer.

But the Paisley-based businessman behind the venture, John Paul Wyllie, has now confirmed that the offers have been withdrawn after investment in the project failed to materialise.

A screenshot from the Scottish News website

In its initial adverts, carried on Scottish jobs website S1, the company said it also wanted to recruit 300 full-time and 200 part-time social media content writers and bloggers, making 800 full and part-time staff in all.

HTFP understands that one of the candidates offered a contract with the venture had resigned from a job with the NHS after being offered the role, which was then withdrawn.

Mr Wyllie told the Scottish Sun: “Despite our very best intentions we are all extremely disappointed that the plans to launch Scottish News haven’t been able to progress as expected.

“We have been on an incredible journey so far to realise our aim of launching an innovative and exciting new company which would bring new jobs to the Glasgow area and allow us to invest in a city we love.

“Sadly, we have however been let down on promised investment and it is with deep regret that this left us with no alternative but to withdraw the employment offers made.

“This decision was made with a heavy heart having explored all other alternatives within the time frame we had and we wish everyone well in their future careers.”

HTFP has approached Mr Wyllie for further comment.

Companies House records show ‘A ‘ Scottish News Limited’ as having been incorporated on 29 November last year, with Mr Wyllie as its sole director and an address in Glasgow Road, Paisley, as its registered office.