It would appear that after thirty years as one of the world’s leading metal magazines, Metal Hammer will soon be no more.

Metal Injection reports that The U.K.’s Daily Record reports that Team Rock Ltd., the publisher that owns Metal Hammer as well as several other music-related magazines, has gone into administration.

If you don’t know what that means (I didn’t), here’s Wikipedia‘s explanation:

“The process – in the United Kingdom colloquially called ‘under administration’ – is an alternative to liquidation, or may be a precursor to it. A company in administrative receivership is operated by an administrator (as interim chief executive with custodial responsibility for the company’s assets and obligations) on behalf of its creditors. The administrator may recapitalize the business, sell the business to new owners, or demerge it into elements that can be sold and close the remainder.”

Consequently, seventy-three employees have been let go from Team Rock Ltd., leaving only seven to assist administrators. You probably don’t need us to tell you that putting out a full-color monthly magazine (let alone multiple full-color monthly magazines) with just seven staff members is basically impossible — so while the Daily Record article doesn’t explicitly say Metal Hammer is done, it’s hard to see how it could survive… at least until that time when/if another publisher purchases the brand.

Which is basically what whomever runs Metal Hammer‘s Twitter account said when the news broke:

As soon as we hear any more news, y’all be the first to know. Watch this space and thanks to everyone who has supported us in the meantime 👊 https://t.co/K7TEdxVws8 — Metal Hammer (@MetalHammer) December 19, 2016

It goes without saying that to see such a long-standing and well-respected publication in the metal world meet with this fate is agonizing. Our hearts go out to all of the magazine’s staffers. Hopefully, a phoenix will rise from Metal Hammer‘s ashes.

Learn more about Team Rock Ltd’s financial woes here.