Team Rock fundraising campaign surpasses target

23 December, 2016 in News

Team Rock

This week 73 members of the Team Rock staff were made redundant without pay

A crowdfunding campaign to raise money for redundant staff passes its target, as fans and industry figures rally the troops

A campaign to raise £20,000 for staff who lost their jobs one week before Christmas has exceeded expectations. This week 73 members of the Team Rock staff were made redundant without pay, as the company that owns Metal Hammer, Classic Rock, Prog Rock, TeamRock Radio and more went into liquidation.

The total raised so far stands at £66,517, surpassing its initial target on the crowdfunding website JustGiving, with 27 days of the campaign still to go. The person behind the campaign is Ben Ward, the frontman of heavy-metal band Orange Goblin.

Ward said: “These are good, hard-working, committed people… [They] have supported the rock and heavy metal scene in this country for decades.”

Founded in 2012, Team Rock gained a reputation as one of the most popular producers of music magazines in the UK, acquiring the long-running Metal Hammer magazine from Future Publishing in 2013. The Team Rock website receives an average of three million hits per month.

The company have let go 27 employees in Scotland and 46 in London, with reports claiming that the company had been trading at a significant loss for some time. FRP Advisory are seeking buyers for the company’s assets.

Joint administrator Tom MacLennan said: “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.”

You can find details on the campaign and how to donate here

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