There has been a management buyout at lads magazine Loaded whose previous owners, Blue Publishing headed up by tax barrister Paul Baxendale-Walker, went into administration earlier this year.

A team led by Loaded advertising director Jason Calder-McClaren has announced that a new company Simian Publishing has now taken over the title, which led its field in the 1990s but has had a troubled history in recent years, with sales falling from 350,000 in 2000 to less than a tenth of that figure at the last circulation audit in 2011.

In an interview with industry paper the Press Gazette editor Jamie Wallis said the move to Simian Publishing would signal a 're-positioning' of Loaded to bring it 'more in line with the modern man' by concentrating on fashion, music, entertainment and sport. However, Wallis said the magazine would still feature girls although the shoots will be 'more stylised and subtle'.

Baxendale-Walker's Blue Publishing bought the magazine in April 2012, after its former owner, Vitality Publishing, entered administration with debts of around £1m. Blue Publishing then went into administration in June 2013 and the magazine was passed over to Loaded Media Ltd, which also listed Baxendale-Walker as a director.