T
he billionaire house owners of the Telegraph newspapers have denied the enterprise is getting ready to being put into administration amid experiences that talks with lenders over long-standing money owed have damaged down.
Lloyds Banking Group is alleged to be threatening to name in directors for Press Acquisitions, which is the corporate managed by the Barclay household that owns Telegraph Media Group – the dad or mum agency of the Daily and Sunday Telegraph – because it seems to be to get better loans racked up by the enterprise.
It is reported that the Telegraph newspapers and The Spectator , which can also be owned by the Barclay household, might be put up for public sale imminently with a £600 million price ticket.
The household stated that “speculation about the business entering administration is unfounded and irresponsible” and insisted that the loans don’t in any manner have an effect on the Telegraph Media Group.
It is believed that Lloyds has already lined up restructuring group AlixPartners because the receivers of Press Acquisitions as its endurance with the Barclay household over unpaid money owed is working out, in response to experiences.
The banking large can also be stated to have employed Lazard to advise on its choices and is poised to nominate an funding financial institution to kick off a gross sales means of the broadsheet newspapers and media titles if the 2 sides can not hammer out a brand new deal for the loans.
A spokesman for the Barclay household stated: “The loans in question are related to the family’s overarching ownership structure of its media assets.
“They do not, in any way, affect the operations or financial stability of Telegraph Media Group.”
The assertion added that Telegraph Media Group continues to carry out “extremely well” and that the companies inside its portfolio “have no liability for any holding company liabilities, continue to operate as normal and are unaffected by issues in the holding company structure above them”.
Lloyds was not instantly out there for remark.
Sir Frederick and his late twin brother Sir David Barclay, who died in 2021, purchased the Telegraph newspapers in 2004 for £665 million.
Press Acquisitions is now run by Sir David’s son Aidan, with different pursuits owned by the household together with courier Yodel and on-line retailer Very.
