In its filing with the US Securities and Exchange Commission it said that future growth would be tempered by a slower level of capital investments and lower recurring revenue than initially expected.
The lowering of expectations in the UK market has be caused by the increase in competition from BskyB and the BT Group and a sharp fall in the number of subscribers since it entered bankruptcy protection.
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