AMP CEO Julia Raphaely. Image source: Facebook.
Although every effort was made to achieve this, the unexpected and devastating impact of Covid-19, causing the closure of printing and distribution channels, the global halt on advertising spend, as well as the inability to host events for the foreseeable future, have made it impossible to continue trading, despite large amounts of personal funds having gone into AMP.
In her opening keynote at the Marie Claire Power Summit, Jane Raphaely noted that every day should be Women’s Day. “Yesterday we lived in a man’s world. Today we live in a woman’s world… I’ve seen many things happen and I am yet to see women achieving true equality…” Here’s what she believes we ought to do about it…
“This is the most difficult decision I have ever had to make,” said Julia.
For the last 38 years, AMP has been one of South Africa’s leading publishers and our titles have been part of many people’s lives. It’s a big blow for magazine media brands in South Africa as they hold a special place in our country. We never thought this day would come, but we are left with no choice.
Julia expressed her great sadness at the distress the decision would cause. “We have a wonderful team of talented employees, as well as loyal suppliers and clients who will be affected. They have all been a valued part of AMP’s journey.”
An uncertain future
She added that AMP is incredibly proud of the magazine media brands it has cultivated over nearly four decades of business. “We are forever grateful to the people who have been involved and helped to build important media platforms and inspire millions of people across the country.
“The future of many industries is uncertain. AMP is currently dealing exclusively with trying to minimise the negative financial implications this terrible outcome will cause to creditors and staff.”