Mumbai: The Mumbai-based evening tabloid Afternoon Despatch & Courier (ADC) has issues a Notice of closure stating that 19th July 2019 was the last working day at the publication’s office. The 34 -year-old ADC, once a praiseworthy evening newspaper of Mumbai, has announced the imminent demise owing to continuing financial troubles and inability to revive the business fortune of the company.
In its closure notice issues by the commercial manager of Courier Publications Pvt Ltd dated 18th July, stated that the Afternoon Despatch & Courier was stopped from 29th December 2018 owing to the dwindling circulations and advertisement revenues. The efforts taken by the management to revive the business didn’t yield any positive results and subsequently the company was closed effective from 20th July 2019.
Consequently, the service of all the paid staff in service was also terminated w.e.f 19th July 2019 with a promise of settling their dues as per the legal process.
Earlier in 2013, Afternoon Despatch & Courier has stopped printing after a public spat between Kamal Morarka, Chairman of the paper, and the CEO, Farzana Contractor.
The Newspaper’s financial conditions were not that great for more than a decade owing to the ownership war between Morarka and Contractor.
According to Farzana Contractor “Morarka had given money to Farzana’s late husband Behram Contractor to start the paper. Though the money was re-paid in two years, the shares of the company were never transferred in the name of the Contractors.”