Deloitte’s Neville Kahn, Lee Manning and Nick Edwards were today appointed
joint administrators to Setanta Sport Limited and Setanta Transmissions (UK)
Limited following an unsuccessful bid to make the necessary repayments.
The broadcaster has 420 employees in the UK and Ireland, and approximately
1.2 million subscribers, with channels available in three million homes.
Kahn said the business will be wound down after talks between the board,
management team and financial backers failed.
‘This decision means that [Setanta] will shortly cease broadcasting to its
customers in Great Britain.
‘Regrettably, approximately 200 employees will be made redundant in respect
of the Great Britain business. Setanta has today suspended the collection of
subscription payments from customers in Great Britain,’ he said.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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