Leicestershire radio station in liquidation

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


Share this article



Latest Businesses for Sale

Pharmacy
Cambridgeshire, UK Wide

Long established community pharmacy. First time on the market in 30 years. Now occupying exemplary new purpose built accommodation. Standard hours. Offers invited.

Asking Price: Offers Invited
Turnover: £885,000

LEASEHOLD


Creative Consultancy & Interior Design Solutions
UK Wide

Works closely with clients to produce interior design solutions for educational institutions, which could be marketed to more sectors.Additionally offers an array of creative media, including videos,presentations, websites, branding and full direct m...

Asking Price: Offers Invited
Turnover: £873,000

RELOCATABLE


Health Centre Pharmacy
Devon, UK Wide

Unopposed health centre pharmacy. Semi-rural location. In receipt of Pharmacy Access Scheme payments. Offers invited.

Asking Price: Offers Invited
Turnover: £845,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Jan
 

Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...

 
23
 
Jan
 

MBO at Bristol-based media training firm | MBO/MBI

Mentor Media Training has been acquired by lead consultant D...

 
22
 
Jan
 

Chelmsford warehouse management firm bought by software provider | BUSINESS SALE

Chelmsford-based warehouse management solutions provider Min...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
09
 
Oct
 

South Wales furniture maker collapses into administration | ADMINISTRATION

Thought to be one of the top furniture manufacturers in the ...

 
07
 
Oct
 

Prominent Bristol construction company plunges into administration | ADMINISTRATION

An acclaimed construction company operating in southwest Eng...

 
25
 
Jul
 

Welsh construction contractor selling assets | ADMINISTRATION

Administrators for the Port Talbot construction contractor J...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources