The news of SaltWire filing for creditor protection is ‘deeply concerning’, according to Unifor.

The union represents more than 10,000 in the broadcast and newsprint industry.

A private equity fund says the largest newspaper owner in Atlantic Canada, owes them roughly $33 million due to years of mismanagement and is $2.6 million behind in pension payments.

Unifor’s National President Lana Payne says the situation is ‘devastating’.

“This is yet another massive hit to local news that threatens the jobs of hard-working journalist and media worker members and worsens what has been a growing number of news deserts across this country. We stand by our members as we weather this storm together.”

The union says they have not heard word of changes in day-to-day operations, including layoffs, and will continue to monitor the situation and keep members informed.

SaltWire operates 23 newspapers including The Chronicle Herald in Halifax, The Guardian in P.E.I. and The Telegram in St. John’s.

They also employ more than 490 people, 840 subcontractors and have about 100,000 subscribers for its print and online websites.

Hearings started Wednesday in Nova Scotia Supreme Court.