Blue Publishing, the publisher of lads mag, Loaded, and owned by former tax barrister Paul Baxendale-Walker, has gone into administration.

The magazine - on the cusp of celebrating its 20th birthday - will, along with Superbike magazine, now be printed by a new company, Loaded Media Limited.

According to Press Gazette, a number of staff across owner Paul Baxendale-Walker's other titles have been cut by the publisher.

Incorporated on 25 April 2013, Loaded Media Limited lists Baxendale-Walker as its director.

Loaded's sales - like many of its 'lad's mag' market stablemates - have plummeted from the late 90s and early 2000s heyday where it regularly sold over 350,000 copies each month to around a tenth of that figure today.

Baxendale-Walker bought the magazine in April 2012, after Loaded's former owner Vitality Publishing entered administration with debts of around £1m.

The flamboyant owner, who has penned a couple of books on tax - Purpose Trusts, and The Law and Taxation of Remuneration Trusts, is a millionaire digital TV talkshow host, former porn star and tax adviser.

The Oxford-educated lawyer, who lives in a mansion in the Surrey stock-broker belt of Hersham, was struck off as a solicitor in 2007.

He set up his eponymous 'wealth strategy' company in 1994. It now has two offices - one in London's Mayfair and the other in Glasgow.

Until last year, he ran adult film company Bluebird Productions, where he produced, directed and acted in a number of porn films, including a Batman spoof Katwoman where he played the part of a character named Jo-Kerr.

Baxendale-Walker also advised the former Rangers Football Club on employee benefit trusts (EBTs). The club went on to win an appeal against a tax bill over their use.