Hundreds of new businesses for sale and companies in administration added every week - Subscribe here or call 0208 875 0200

Quality Businesses for Sale
Find Businesses For Sale
The UK's leading independent listing of companies for sale since 1995
Independent producer Greenlit enters administration
Wed, 18 Aug 2010

Greenlit, the independent producer behind TV programmes including ITV’s drama Collision, Foyle's War and the new BBC Two comedy Vexed, has entered administration.

Its parent company, Target Entertainment, was sold yesterday to DVD distributor Metrodrome for £800,000. The sale did not include Greenlit.

BDO Stoy Hayward, which was brought in to manage the sale of Target, is now Greenlit’s administrator. The four Greenlit employees have been made redundant.

The founder of the company, Jill Green, sold the business to Target Entertainment in February 2008, but stayed on with the firm in the role of managing director.

It is believed that Green resigned in July as Target had breached the “original terms of our agreement relating to the sale of the business”.

Metrodrome chairman Mark Webster commented on the situation: “Metrodrome Group very much wanted to include Jill Green and Greenlit as part of the acquisition, but could not reach an agreement that suited all parties.”

Greenlit’s latest accounts reveal a £598,618 profit achieved for 2007.

The sale of Target Entertainment included its sister businesses Target US and Pink Sands.

It is understood that Jill Green is attempting to secure the rights to Foyle’s War.

Subscribe today to read and search all our news, premium articles, business sale listings and buy/sell resources.

© 1995-2015. A division of Business Data International Ltd. All rights reserved.