[url=http://ca.news.yahoo.com/s/reuters/091029/canada/canada_us_canwest_natio... Post may close after Friday[/url]
TORONTO (Reuters) - The National Post, the flagship daily newspaper of Canada's beleaguered Canwest Global Communications, will likely be forced to close after Friday if it isn't transferred to a new holding company, Canwest said in a court filing.
Creditors of the company have indicated they are no longer prepared to fund continuing losses at the Post, which employs 277 people, Canwest said.
The creditor group "will not continue to support funding the National Post Company in the long or short term past October 30, 2009," Canwest said in a court report released on Thursday.
Canwest said the Post has no other sources of funding its "ongoing losses." A failure to transfer the newspaper into a different holding company by October 30 "would likely result in the forced cessation of its operations and commencement of liquidation proceedings in respect of the National Post Company."