In an open letter titled ‘Associated Media Publishing: the end of an era’ the South African publishing giant has announced that the company will cease trading on May 1.
In the letter they say: AMP published Cosmopolitan, House & Leisure. Good Housekeeping and Women on Wheels. The company launched in 1982 by Jane Raphaely, a woman who has played a pivotal oral in magazine publishing and female empowerment in South Africa. Her daughter Julia took over the helm during the last turbulent decade, transforming the company to meet the challenges the entire publishing industry faced.
Although every effort was made to achieve this, the unexpected and devastating impact of Covid-19, causing the closure of printing and distributing channels, the global halt on advertising spend as well as the inability to host events for the foreseeable future, have made it impossible to continue trading, despite large amounts of funds having gone into AMP.
Julia expressed her great sadness at the distress the decision would cause. “We have a wonderful team of talented employees, as well as loyal suppliers and clients who will be affected. They have all been a valued part of AMP’s journey”.
When asked what’s next, Julia commented that “the future of many industries is uncertain. AMP is currently dealing exclusively with trying to minimise the negative financial implications this terrible outcome will cause to creditors and staff”.