Administrators from PricewaterhouseCoopers have been called in at the TV, media and marketing business, which ran out of money after it failed to sell its subsidiary companies.
As well as co-owning the rights for the Popstars brand, the company was jointly responsible for Supermodels, a format that has been sold into more than a dozen markets.
The company employed 300 staff, mostly in its subsidiaries based in the UK and Australia.
David Hargrave, PwC partner, said: ‘The board has worked hard to try and secure a restructuring of the Group over recent weeks, but the cash needs of the parent company were such that insufficient funds existed to conclude the sale process.’
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children