BusinessBusiness RecoveryPKF in bid to rescue Auctionworld

PKF in bid to rescue Auctionworld

Cable and satellite TV shopping channel Auctionworld has gone into administration with debts of £14m and 27,000 customers still owed money.

Link: Online betting website goes bust

Brian Hamblin and Philip Long from PKF have been appointed as administrators and are currently looking into the company’s records.

A PKF statement said that both administrators would post advice and information on the firms’ website as and when they have completed their investigations.

The channel was fined £450,000 by Ofcom last week, after the regulator received a large number of complaints suggesting it had exaggerated the value of items on sale. All trading activities ceased last Friday 19 November.

The Hertfordshire-based channel launched in 2001 and employs 300 people.

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