THE bad news for Irish Press plc continues, with headlines this week in the national media about the company's losses of £1.3 million in the year to March last. Shareholders funds have plunged to £996,000, compared to £1.82 million in 1995.

More than half of the losses related to loans which Irish Press plc gave to Irish Press Newspapers (IPN), the company which published the three titles and employed a workforce of 600.