Deloitte confirms Setanta administration
Troubled sports broadcaster fails to make payments
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.
Further Reading:
MP
calls for full disclosure of costs of digital switchover
Virgin
Media signs deal with Setanta to show football