The rock and metal community led by Orange Goblin frontman Ben Ward, has come together in support of the former staff at Team Rock, raising over £52,000 in a matter of days. Publisherr of Classic Rock Magazine, Metal Hammer, and Prog Magazine, the company shockingly went into administration on 19th December, leaving 73 people out of work and facing an uncertain future.
Ben Ward. Photo: Press.
By Eamon O'Neill on 21st December 2016.
The rock and metal community led by Orange Goblin frontman Ben Ward, has come together in support of the former staff at Team Rock, raising over £52,000 in a matter of days. Publishers of Classic Rock Magazine, Metal Hammer, and Prog Magazine, the company shockingly went into administration on 19th December, leaving 73 people out of work and facing an uncertain future.
The fundraiser set up early on Tuesday morning (20th December), comes following the company’s liquidation and the announcement that staff were to be laid off with no severance pay six days before Christmas. With an initial target of £20,000, which was met around 5pm Wednesday afternoon, the campaign is currently at 260% of its target.
The campaign has received donations from rock fans around the world, including high profile names like Avenged Sevenfold, Black Stone Cherry, Asking Alexandra, Tesseract, Earache Records and many more. British singer-songwriter Frank Turner has set up an auction in the hope of raising money for the affected.
People can donate to the campaign here.
Administrators were called in after the firm got into financial difficulties, and 27 members of staff in Scotland and a further 46 in London have been made redundant. Seven staff members will be retained "in the short term" to assist the administrators.
Administrators at FRP Advisory are now seeking buyers for the business's magazine titles and other assets. Joint administrator Tom MacLennan said Team Rock had traded at a loss "for a significant period of time", adding: "The company explored every option to secure the long-term future of the business, however the constraints on the cash position of the business were such that administration was the only viable option. The administration presents an excellent opportunity to acquire high profile rock music titles, products and brands that have a substantial global following. "
The loss of Team Rock, which has helped raise the profile of eonmusic significantly in the last twelve months, leaves a huge hole in the rock music community. Team Rock was founded in 2012, and bought the Classic Rock, Classic Rock Presents Prog and Metal Hammer magazines from Future Publishing in 2013. FRP have stated the company's website attracted more than three million hits per month, and the company owns an extensive archive of video, radio, images and magazines.
The rock and metal community led by Orange Goblin frontman Ben Ward, has come together in support of the former staff at Team Rock, raising over £52,000 in a matter of days. Publishers of Classic Rock Magazine, Metal Hammer, and Prog Magazine, the company shockingly went into administration on 19th December, leaving 73 people out of work and facing an uncertain future.
The fundraiser set up early on Tuesday morning (20th December), comes following the company’s liquidation and the announcement that staff were to be laid off with no severance pay six days before Christmas. With an initial target of £20,000, which was met around 5pm Wednesday afternoon, the campaign is currently at 260% of its target.
The campaign has received donations from rock fans around the world, including high profile names like Avenged Sevenfold, Black Stone Cherry, Asking Alexandra, Tesseract, Earache Records and many more. British singer-songwriter Frank Turner has set up an auction in the hope of raising money for the affected.
People can donate to the campaign here.
Administrators were called in after the firm got into financial difficulties, and 27 members of staff in Scotland and a further 46 in London have been made redundant. Seven staff members will be retained "in the short term" to assist the administrators.
Administrators at FRP Advisory are now seeking buyers for the business's magazine titles and other assets. Joint administrator Tom MacLennan said Team Rock had traded at a loss "for a significant period of time", adding: "The company explored every option to secure the long-term future of the business, however the constraints on the cash position of the business were such that administration was the only viable option. The administration presents an excellent opportunity to acquire high profile rock music titles, products and brands that have a substantial global following. "
The loss of Team Rock, which has helped raise the profile of eonmusic significantly in the last twelve months, leaves a huge hole in the rock music community. Team Rock was founded in 2012, and bought the Classic Rock, Classic Rock Presents Prog and Metal Hammer magazines from Future Publishing in 2013. FRP have stated the company's website attracted more than three million hits per month, and the company owns an extensive archive of video, radio, images and magazines.
