The closure of the Irish Press Newspaper Company in May 1995 results in over 600 job losses and £18 million in accumulated debts.
Despite plans to resurrect the Sunday Press title, an auction of Irish Press Newspaper Company assets took place at its former headquarters on Burgh Quay.
The 1,300 lots for auction ranged from office equipment to printing equipment such as photo processors, cameras pre-printing equipment loading machinery, all still of value to newspaper publishers.
Former Irish Press Photographer Tony Gavin, attended the auction with the intention of buying back his cameras so he can earn a living again. After a 36 year career with the Press, former assistant editor Michael O’Kane found the auction an emotional experience saying
It’s so sad today to see people handling and picking over photographic equipment that took some of the best pictures that were ever taken in the history of this country.
Everything was for sale apart from printing presses and archival material, which will be sold by private treaty. Receiver Ray Jackson will be fulfilling his duties up to and including sale of the Burgh Quay building itself. This will happen once the building is cleared.
An RTÉ News report by Vincent Wall broadcast on 21 November 1995.