THE COMPANY behind Milford Haven-based newspaper The Pembrokeshire Herald, which said it was closing its doors on Friday, will now keep going after an 11th-hour investment.

The controversial weekly, which later included editions in Ceredigion and Carmarthenshire, was launched in 2013, with then-editor Bruce Sinclair and Thomas Sinclair [no relation], who later went on to edit the paper after Bruce Sinclair resigned.

The Hamilton Terrace-based newspaper group, Herald News (UK) Limited, announced it had ceased trading first thing Friday morning, October 18, with staff informed at a meeting held at 10am that morning.

The Herald’s management has stated today, October 21, that a deal has been struck with a new investor which will secure the future of The Pembrokeshire Herald weekly print title, as well as three other news websites.

At least ten of the 24 staff working at The Herald have been told that they will keep their jobs following confirmation of the investment.

Herald News UK Limited has entered into a six-figure cash-for-shares agreement with Spanish advertising firm Rigographic Espana, it has stated.

Its CEO, Ricardo Rigobon said that The Herald deserved to be saved, a statement from the paper said.

He said: “As a campaigning newspaper The Pembrokeshire Herald has served its customers well over the last six and a half years. Its circulation is strong, and the website is extremely popular. I believe with the new reduced costs business model we can secure the future of the newspaper.

“The Llanelli Herald and The Carmarthenshire Herald will continue online.”

Managing Director of Herald News UK Limited, John Hammond said that he was delighted that the future of the firm, and almost half the workforce, was now secure.

He explained: “We have worked tirelessly over the weekend to get the necessary financing in place since our original investor pulled out. As a result of those efforts, we have now got a new partnership with a long-established firm in our industry.”

Editor of The Pembrokeshire Herald, Thomas Sinclair said: “I am excited that we have been given a new opportunity. It’s not a time for celebration as we still have colleagues who have lost their jobs. However, for the remaining team we now have a get on with the job of reporting the news and getting the papers out each Friday.”

Under the editorship of Thomas Sinclair, the newspaper group has courted controversy on several occasions, with Thomas Sinclair previously being found guilty of identifying the victim of a sexual offence in one of his publications.

A major shareholder in the group was also sentenced to nine years in jail for drug-dealing.