There is growing speculation that New Caledonia's only daily newspaper will become an online publication only.
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The Nouvelles Caledoniennes was granted insolvency protection last year but its publisher now needs to present a rescue plan to the commerce tribunal by the end of April.
The public broadcaster La Premiere says time is running out to sustain the current form of publication as a rescue plan must be supported by the banks and be consented by the employees.
The Melchior group is reported to be losing about $US2 million a year with the Nouvelles Caledoniennes.
With the proliferation of the internet, the newspaper began losing advertising and has also been hit by a rise in the price of print.
Investors are also reported to be reluctant to inject more funds as cost cutting measures are yet to be adopted.
Les Nouvelles Caledoniennes, which was launched 51 years ago, was owned by the French Hersant group until 2013 when it was sold to local interests.
A decade ago, Hersant also sold its two daily newspapers in French Polynesia, one of which has since been closed.