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Ex-Local World boss believed to be among Archant bidders

David MontgomeryFormer Local World boss David Montgomery is among the potential bidders understood to have come forward after Archant launched a plea for investors.

HTFP reported last week Archant had held talks with a number of interest parties after suffering significant falls in advertising revenue during the coronavirus crisis.

Reports have since emerged that Mr Montgomery’s National World investment vehicle may consider tabling an offer for the Norwich-based company.

National World declined to comment when approached by HTFP, but it is understood the company is interested in investing in Archant.

It is not yet clear with Mr Montgomery, pictured, plans to bid for all or part of the publisher’s assets.

National World was launched last year and became a surprise front-runner in the race to buy JPIMedia in December 2019.

But two months later JPIMedia chief executive David King confirmed the company was “not actively exploring a sale”.

According to Sky News, Archant has been set a deadline of 16 July to table indicative bids for the company.

The company has reiterated that it “faces no immediate threat to trading” as a result of the process.

An Archant spokesman told HTFP: “The board of Archant confirms it is in early-stage discussions with a number of third parties who have expressed an interest in investing in our business.

“For clarity, the company faces no immediate threat to trading, and continues business operations as normal.

“Archant will be making no further comment for the time being.”