Come the end of the month, there will be one less paper on the newsstands.

Citing financial difficulties, the Virgin Islands StandPoint newspaper announced yesterday that it would temporarily cease publication after its April 25 edition.

“It’s a difficult decision for anyone to make,” managing director and owner Elton Callwood said during an interview yesterday morning. “I’m hopeful that the paper will print again, but I can’t continue to do business like this.”

The temporary closure will allow the company to consider restructuring as it “examines the way forward in these harsh economic times,” according to a press release announcing the closure.

Mr. Callwood said one of the biggest obstacles the paper faces is collecting timely payment from clients and advertisers.

“Everyone is suffering out there, but you can’t run your business like a bank,” he said. “Eventually you realise that you can’t pay your own bills. It’s a domino effect.”

See the April 4, 2013 edition for full coverage.

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