The Week: City news - Dawson in asset fire sale

Dawson Holdings has sold the assets of its newspaper and magazine distribution business Dawson News for £2 million in a bid to preserve 1,800 jobs.

The business has been put into administration and faces the loss of £528 million in contracts from major publishers, including News International and Trinity Mirror. However, the rival distributors Smiths News and John Menzies have acquired the assets from the administrators and staff are expected to transfer as a result.