Millivres Prowler, the company behind GT magazine and the popular gay men’s lifestyle stores in London and Brighton, has gone into administration, it has been announced.
However the future of GT is secure.
The magazine will also be rebranded under its former name of Gay Times.
The magazine and website have been bought by investor James Frost.
In a statement Mr Frost said: “Gay Times is an iconic brand which continues to offer unparalleled access to a global community of gay and bi men.
“Under my leadership, we will continue to work with global partners, advertisers, sponsors and businesses as champions of LGBT life and business. The impressive global reach of Gay Times proves there’s still a place for LGBT media in the world.”
Editor Darren Scott adds: “Gay Times continues to evolve and to adapt to the world around us, much like the LGBT community at home and around the globe.
“Publishing is going through a time of great change and James is perfectly placed to help us continue to propel our growth as we explore and shape what the next generation of LGBT media looks like.
“We’re thrilled to be able to continue to deliver our quality product and expand on what we first started with the launch of Gay Times in 1984 – to be more than just a magazine: to be an indispensable resource for the modern man.”
The future of the Prowler stores and its online business will be announced at a later date.