Law360 (April 8, 2020, 3:29 PM EDT) -- The London-based Jewish Chronicle — the world's oldest Jewish newspaper — announced Wednesday it is folding in the face of the COVID-19 crisis and beginning liquidation proceedings.

In an article published on its website, the 179-year-old weekly said its board had, "with great sadness," decided to begin voluntary liquidation proceedings.

"Despite the heroic efforts of the editorial and production team at the newspaper, it has become clear that the Jewish Chronicle will not be able to survive the impact of the current coronavirus epidemic in its current form," the article said.

The paper said it expects to finalize the liquidation in two to three weeks and that it will make "every effort" to continue publishing and updating its website during that period.

Representatives of the paper did not immediately respond to requests for additional comment Wednesday.

The paper began publishing in November 1841 and reported a circulation of just over 20,000 in 2018. It is owned by the Kessler Foundation, a trust established by the Kessler family, which purchased its first stake in the paper in 1906.

The paper had reportedly faced a threat of closure in 2019 due to falling revenues and an underfunded pension plan but was bailed out by donations from approximately 20 individuals, families and trusts.

In February, it announced plans to merge with London-based free weekly the Jewish News, saying the papers were seeking to secure their futures in the face of the "trends affecting the newspaper industry." It said a final agreement was dependent on raising additional funds, but the merger was never consummated.

--Editing by Abbie Sarfo.

For a reprint of this article, please contact reprints@law360.com.