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The Kernel to close as debts stay unpaid The Kernel to close as debts stay unpaid
(7 months later)
London startup blog the Kernel is to close after its parent company Sentinel Media could not satisfy bailiffs' demands for payment of £16,853, just days after its sole director Milo Yiannopoulos insisted to MediaGuardian that "the company remains in good health".London startup blog the Kernel is to close after its parent company Sentinel Media could not satisfy bailiffs' demands for payment of £16,853, just days after its sole director Milo Yiannopoulos insisted to MediaGuardian that "the company remains in good health".
Yiannopoulos emailed former contributors, who had not been paid, on Monday afternoon admitting that "as of this week, Sentinel Media is no longer able to pay its debts". The company will either be wound up – which would lead to a court-appointed administrator who would examine its accounts – or simply cease trading.Yiannopoulos emailed former contributors, who had not been paid, on Monday afternoon admitting that "as of this week, Sentinel Media is no longer able to pay its debts". The company will either be wound up – which would lead to a court-appointed administrator who would examine its accounts – or simply cease trading.
Sources close to Sentinel Media had assured MediaGuardian last week that it could cover the payment, which came from an employment tribunal ruling in favour of Jason Hesse, whom Yiannopoulos had appointed editor of the site in March 2012.Sources close to Sentinel Media had assured MediaGuardian last week that it could cover the payment, which came from an employment tribunal ruling in favour of Jason Hesse, whom Yiannopoulos had appointed editor of the site in March 2012.
But when bailiffs called on Sentinel Media's offices on Monday, Yiannopoulos was forced to admit that the company had insufficient assets to cover the debt. However, in the email to contributors sent out on Monday afternoon, he said that "there are insufficient assets left to wind up the company" and claimed that "despite my best efforts, sustained campaigns against the company from certain quarters have left the business unviable".But when bailiffs called on Sentinel Media's offices on Monday, Yiannopoulos was forced to admit that the company had insufficient assets to cover the debt. However, in the email to contributors sent out on Monday afternoon, he said that "there are insufficient assets left to wind up the company" and claimed that "despite my best efforts, sustained campaigns against the company from certain quarters have left the business unviable".
In a farewell post on The Kernel, saying "We bid you adieu", Yiannopoulos claimed that the site's £5-a-month digital newsletter, the Nutshell, had "thousands of subscribers".In a farewell post on The Kernel, saying "We bid you adieu", Yiannopoulos claimed that the site's £5-a-month digital newsletter, the Nutshell, had "thousands of subscribers".
None of the contributors to the site contacted by MediaGuardian were ever paid. Other writers and photographers say they are owed a total of about £10,000.None of the contributors to the site contacted by MediaGuardian were ever paid. Other writers and photographers say they are owed a total of about £10,000.
A bailiffs' report seen by MediaGuardian said Sentinel Media was invoiced for £960 per month for two desks' office space in White Bear Yard, a shared workspace popular with tech companies in Farringdon. Eileen Burbidge, the White Bear Yard office manager who spoke to the bailiffs, told MediaGuardian "we don't comment on arrangements with any of our teams or tenants".A bailiffs' report seen by MediaGuardian said Sentinel Media was invoiced for £960 per month for two desks' office space in White Bear Yard, a shared workspace popular with tech companies in Farringdon. Eileen Burbidge, the White Bear Yard office manager who spoke to the bailiffs, told MediaGuardian "we don't comment on arrangements with any of our teams or tenants".
Margot Huysman, whom Yiannopoulos had appointed associate editor and who is one of the people seeking payment for work done for the Kernel, commented on Twitter: "I am sad to know so many people who got personally screwed over as well as financially. And who are now certainly never getting any money. I was left not eating properly and stressing and panicking about making ends meet, and somehow made to feel guilty and like it was my fault."Margot Huysman, whom Yiannopoulos had appointed associate editor and who is one of the people seeking payment for work done for the Kernel, commented on Twitter: "I am sad to know so many people who got personally screwed over as well as financially. And who are now certainly never getting any money. I was left not eating properly and stressing and panicking about making ends meet, and somehow made to feel guilty and like it was my fault."
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