Small, Bath-based independent publisher Merricks Media has gone to the wall, in the hands of administrators after running out of money – 22 jobs lost. The company publishes contract mags in travel and overseas property – two areas on which people are cutting back spending – plus nine websites including Homes Worldwide and Get Me Down Under.
Founder Lisa Doerr blamed the bankers (via ThisIsBath.co.uk): “After 11 years and a lot of work and passion, the business closed due to a lack of finance from the banks. The business was carrying quite a bit of debt and the bank was not willing to put together a rescue plan with outside investors.” After commenters on ThisIsBath criticised Doerr’s management, she added: “It’s not just the banks who are to blame