Following a hearing in the High Court this afternoon, Deloitte’s Nick Dargan and Nick Edwards were appointed to oversee the affairs of the digital broadcaster.
Dargan has confirmed that funding has been provided to enable the business to continue in the short term, but warned there was ‘a short period of time’ to secure supplier agreements so the service could continue to be provided to subscribers.
Last month Deloitte was brought in to help ITV Digital, which was backed by Granada and Carlton Communications, to reduce its cost base – the two media giants have poured £800m into the project.
ITV Digital had for some time been struggling under the weight of its £315m cost of televising Football League games.
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