The head of Metro Media says the Quebec newspaper publisher will declare bankruptcy this week, permanently ending its coverage of local government in parts of the province’s two largest cities.
CEO Andrew Mule said in a Sunday post on X, formerly known as Twitter, that the decision was made after the company abruptly suspended operations at its more than 30 hyperlocal publications, including the Journal Metro and 16 print weeklies. In a statement sent to employees on Aug. 11, Mule said he’d been informed the company no longer had the liquidity to continue despite what he described as a healthy balance sheet.
On Sunday, Mule said the impending bankruptcy marks a sad epilogue to his 28 months at the helm, and admitted he felt bitterness and a sense of unfinished business as local news struggles for survival across the country. The company now has roughly 70 employees, including some 30 journalists whose temporary layoffs will become permanent, on top of earlier rounds of layoffs since last winter.
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