A struggling St. John's-based newspaper, The Independent, has not been able to find a new source of money, according to the paper's website.

The paper announced this month it would fold if it could not find a new backer, after publisher Brian Dobbin told staff he was pulling out.

In a public announcement posted July 21, the paper announced it could not find new investors.

"Negotiations with potential investors/owners to take over The Independent newspaper have not been successful. The management and staff would like to thank readers and advertisers for their support," the website said.

The Independent, a weekly independently owned newspaper, had closed more than two years ago because of financial trouble, but started up again a week later.