Setanta's UK operations have been placed into administration after failing to raise the funds needed to save the division.
The appointed administrators at Deloitte have said about 200 employees will lose their jobs, and the business will be wound down at a cost of £450m to investors.
Setanta's Irish and international businesses have not been affected and will continue to trade as normal.
Setanta froze its UK operations yesterday, ceasing to broadcast to customers in Britain, and suspending collection of subscription payments.
Some of Setanta's 1 million subscribers in the UK may seek to reclaim as subscription fees were paid one month in advance, however Neville Kahn of Deloitte says the business does not have the cash to give refunds.
Deloitte is currently discussing sale options with several interested parties for Setanta's Irish and international businesses. The administrator may complete the deals by the end of this week.
The UK sports broadcaster failed to meet a payment of £10m to the Premier League recently, leading to the cancelled contract to broadcast football matches on TV.
