Yes you do, how else could it recover? It had no advertisers anymore and the readership would be next to nothing, a newspapers reputation is incredibly difficult to fix. The Sun is still unpopular in Liverpool due to the Hillsborough disaster apparently and that happened in the 80s;
http://en.wikipedia.org/wiki/Hillsbo..._Sun_newspaper
It may well have been in the pipeline to shut it down but that's purely coincidental, the paper had no economic future what-so-ever and would do nothing but generate large losses for News International week after week.