• The Guardian , Tuesday, March 5, 2013 1:33 PM

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.

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