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
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
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.