THE COMPANY behind the Carmarthenshire Herald, which said it was closing its doors on Friday, will now keep going after an 11th-hour investment.

The weekly newspaper which included editions in Pembrokeshire and Ceredigion, was launched in 2013.

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 Pembrokeshire Herald weekly print title, as well as three other news websites, which includes Carmarthenshire.

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, who has 20 years’ experience in publishing and advertising, 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, whose address is listed on Companies House as Hill Street, Haverfordwest, 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.”

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.”