Thu, 01 Mar 2012 | ADMINISTRATION
British media distribution company, Target Entertainment, has been put into administration by its parent company after efforts to secure its future failed.
The company was purchased by the Metrodome Group in August 2010 as a loss-making concern, but a spokesman for the larger company said that they could no longer support the losses of Target. Metrodome had been looking for a buyer for Target for the last two weeks, but announced today that they had made the “difficult decision” to put it into administration.
The spokesman said, “Given the tougher than expected trading conditions for Target, as highlighted in the trading update on December 21, 2011, the board believes there is little prospect of Target returning to profitability in the near future and, together with its advisers, has conducted a thorough review of the available options for Target.”
Administrators from BDO were appointed to the company on Tuesday, 28 February. The other Metrodome trading divisions – Metrodome Distribution and Hollywood Classics – are unaffected by the situation and remain in business.
Metrodome paid around £800,000 for Target in 2010, and planned to invest around £3 million in returning the business to profitability. The distributor represents around 4,000 hours of scripted, factual and children’s shows, including Fifi and the Flowertots, the Popstars formats and reality show Most Haunted.
The group consists of two companies: one provides electrical engineering services; the other provides electrical testing solutions. Both companies provide comprehensive turnkey solutions, overseeing projects from inception to completion across variou...
Founded in 1996, ‘Project Voyager’ provides luxurious sleeper coaches for band tours, crew transportation, and events across the UK and Europe.
The company delivers highly regarded therapies for compulsive sexual behaviour disorder (CSBD), helping addicts, their partners, and couples to recover. The programmes are offered in a variety of formats, comprising individual therapies, online sessi...
LEASEHOLD
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.