Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
UK Branch of Setanta Placed Into Adminstration
Guardian, June 23rd, 2009 3PM

MOST READ

MOST COMMENTED

Irish pay-TV company Setanta has today been placed into administration after rescue talks designed to secure new funding collapsed. Accountancy firm Deloitte has confirmed it has been appointed to administrate the UK part of the business, which employs about 200 staff. They will now be made redundant.

Setanta's UK arm "will shortly cease broadcasting to its customers in Great Britain" according to Deloitte's Neville Khan, one of the partners appointed to carry out the process. The pay-TV operator has suspended the collection of subscription payments from customers in the UK with immediate effect as the company attempts to restructure. "We can confirm that no further monthly subscriptions or direct debits will be accepted from customers of the UK business," Khan said.

The company will continue trading and Setanta Ireland and Setanta International are not covered by the appointment, Deloitte added. After an agreement with U.S. billionaire Leonard Blavatnik, who was in talks to buy a majority stake in the business, collapsed, Setanta's founders were thought to be focusing on trying to rescue its Irish and North American operations, believed to make a modest profit. Those talks will continue, according to Khan. "The International and Ireland businesses continue to trade on air whilst we are in discussions with parties to take on those businesses as going concerns," he said. Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Sporting Demands UCL Replay     
Sporting Lisbon has lodged a formal complaint with UEFA demanding a replay of its UEFA Champions ...
FIFA Rankings: USA Falls to 23rd    
Jurgen Klinsmann's USA fell six places to 23rd in FIFA's international rankings following a pair of ...
Diego Costa Released from the Hospital     
Chelsea is expected to be without striker Diego Costa when the Blues visit Manchester United at ...
Reports: Ibra Suffers Injury Setback     
Reports in Sweden claim that Zlatan Ibrahimovic could require surgery on the heel injury that has ...
FIFA Backs Clasico Pause for Messi's Record     
Lionel Messi heads into Saturday's game against Real Madrid at the Bernabeu just one goal short ...
Allegri: Juve Can Still Qualify    
Massimiliano Allegri believes Juventus still has a good chance of qualifying for the Round of 16 ...
Mertesacker: Gunners Lack Confidence    
In a candid interview, Arsenal center-back Per Mertesacker admits that the Gunners are low on confidence ...
Rodgers: Why Always Balotelli?     
Once again, it was all about Mario Balotelli, as Liverpool coach Brendan Rodgers fielded a barrage ...
Report: Demand Amps Up Ahead of El Clasico    
This Saturday's Clasico between Real Madrid and Barcelona, which regularly draws hundreds of millions of viewers ...
Ferguson: Moyes Didn't Inherit Declining Man United    
Alex Ferguson has updated his book My Autobiography to include a section about the short reign ...
>> Section 2 Around the Net Archives