Latest victim of the recession
Reeds Nautical Online Almanacs went into administration on Monday, the latest victim of the credit crunch. Five staff have lost their jobs at the Saffron Walden office in Essex.
The company got into difficulty after advertising revenue dried up and they fell behind with payments to A&C Black the publishers who supplied RNOA with a licence. They have revoked the licence and the website is now blank.
More than 4,000 subscribers used the service and MD Simon Whittley told YM he was trying to find a way to supply them with the service they have paid for and said he hoped a rescue package could be worked out.