The information is contained in a statement from the administration of the media group that owns 16 titles, including Visão, Exame, Exame Informática, Jornal de Letras, Caras, Activa, and TV Mais.

"Following the disapproval of the PER [Special Revitalisation Process], TIN will formally communicate to the AJP [provisional judicial administrator] that it has nothing to oppose to the insolvency opinion that it may suggest, in the conviction that the company continues to operate, and expressing, from now on, its intention to present an insolvency plan, requesting, from the outset, the convening of an Assembly of Creditors to present and substantiate the company's recovery plan", reads the message sent to workers.

The administration, led by Luís Delgado, says that "Trust In News has always believed that the path of its restructuring and viability would be the most consistent and positive for all creditors" and for its employees, "who have always contributed to free social communication , independent and impartial, strictly complying with its constitutional purposes".

But, "regrettably, and having failed all our efforts to maintain and stabilise our activity, whose restructuring is ongoing and producing positive effects, we have reached the moment where we are forced to take the next step", laments the administration.

"TIN's 16 communication vehicles cover all types of readers, across genres, age groups and social classes, have significant relevance in the paper and digital media market, more than 20%, (data from APCT), not only because the entire history, as well as the quality information service they have provided over these seven years", continues the administration.

Therefore, it is "unimaginable to conceive social communication in Portugal without the fundamental presence of TIN magazines, which fulfil their constitutional duty to inform with rigor, quality and plurality. The obligation to inform and be informed is a basic principle of our democracy and national sovereignty", emphasises the TIN administration.

"We understand, therefore, that a blind insolvency that determines the simple dissolution and liquidation of Trust In News will leave the national media poorer, and will not protect all employees and creditors, including the State itself".

The administration also clarifies that, "in the communication to the AJP, TIN also clarified the debts owed to the State, based on real data, from 2018 to 2024, to clarify the distorted narrative that has been circulating on this subject", thanking everyone "for work and dedication, despite everything that is happening."

Trust in News' PER was rejected on November 5, with the votes of the Federal Revenue Service (AT) and Social Security, after the administration informed workers that this would happen.