Mon, 01 Aug 2016 | ADMINISTRATION
A commercial radio station called Oak FM, operating in Leicestershire, has stopped broadcasting, going off air suddenly when its evening news bulletin was due on 28 July 2016, and is now in the hands of liquidators.
The station shut down after its two directors received insolvency advice. Gareth Rusling and Ashleigh Fletcher of Begbies Traynor have been brought in as the joint liquidators of Oak FM (Hinckley & Nuneaton) Ltd and Oak FM Ltd, and its associated company ATR Media Ltd.
The closure means five job losses, for the stations DJs, administration staff and one director, liquidator Mr Rusling confirmed. They are now looking into selling the business' assets, which feature broadcasting equipment and related licences.
Mr Rusling said: “There are a number of creditors, including six local businesses that have paid for £7,000 worth of advertising in advance, and we are working to assess the likelihood of any return to these firms that are owed money."
The current owners had purchased Oak FM in 2015, which was formed out of a merger of two local stations — Fosseway Radio and Oak 107 FM — in 2008. It encountered difficulty due to increased competition in the form of a new radio station and historic debts, which led to trading becoming unviable.
Companies in liquidation
An established MOT and service centre positioned in the vibrant community of Portslade, Brighton, presents a unique opportunity for investment in East Sussex's automotive service industry.
A licensed restaurant in Brighton, East Sussex, featuring alfresco seating for 60 covers, is available for purchase.
LEASEHOLD
Opportunity to acquire a maintenance grooming equipment business in Brighton at a reduced price for a quick sale.
30
|
Jun
|
Specialist electronics manufacturer to be acquired in £20m deal | BUSINESS SALE
Landguard Nexus Limited, a specialist electrical and electro...
30
|
Jun
|
Modella successfully price-chips WH Smith deal by at least 23 per cent | BUSINESS SALE
Back in March 2025, private investment form Modella Capital ...
30
|
Jun
|
IFA consolidator secures £14.5m facility for buy-and-build strategy | BUSINESS NEWS
Futura Financial Services Group, a consolidator of UK indepe...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.