City TV station bought out of administration

Wed, 14 Sep 2016 | BUSINESS SALE

A broadcaster that went into administration may have found a buyer.

Bay TV, based in Liverpool, went into administration with debts of more than £450,000 after failing to come to an agreement with its creditors.

The company called in administrators Refresh Recover, of Skelmersdale, which continued the broadcasting in an effort to sell the TV station as going concern.

Bay TV chief executive, Chris Johnson, told the Liverpool Echo: “We are working hard with the administrators to keep the business operating as a going concern. I am confident that the station will remain on air – it’s still on air and will remain on air.”

The station was launched in 2013 after winning the Local TV Licence for Liverpool. It is one of a number of city stations broadcasting across the UK.

It is understood there were three different companies interested in taking over the station and Made Television, which has already invested in the Liverpool station, appears set to do so if approval is given by broadcast watchdog Ofcom.

Made Television is the biggest company in the UK’s City TV industry and has teamed up with members of the Bay TV management to fully acquire the station, which will be known as Made in Liverpool.

Jamie Conway, CEO of Made Television, said: “City TV is a fledgling industry and there will inevitably be successes and failures along the way. While some have read into Bay TV’s situation as detrimental to the industry, we are committed to investing in this important and nascent new sector in television as are the management team of Bay TV who we are proud to work with.”

You can search here for businesses for sale


Share this article



Latest Businesses for Sale

Authentic Sardinian Restaurant
Stoke Newington, North London, London, South East, UK

Il Bacio Express, an authentic Sardinian restaurant which was established by our client in 2000. Our client is now looking forward to moving back to Sardinia. Il Bacio Express opened in 2000 as a pizza and pasta café. Since then the business has grow...

Asking Price: £345,000
Turnover: £464,228

LEASEHOLD


Nationwide Loss Adjuster
UK Wide

Specialises in providing complete, responsive loss adjusting services for property, motor, goods in transit and liability insurance claims. The shareholders are offering the business for sale due to their retirement plans. Offers invited.

Asking Price: Offers Invited
Turnover: £327,000

FREEHOLD


Gas Leakage Repair Solutions & Pipeline Corrosion Protection
UK Wide

Gas leakage repair solutions and pipeline corrosion protection to the utilities industry. Strong second-tier management team in place able to run the day-to-day operations of the business. Offers invited.

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

Free guide: 10 Biggest Buyer Mistakes

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

Email


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