Setanta switched off: Deloitte called in. Investors count £450m cost of failure
Deloitte’s Neville Kahn, Lee Manning and Nick Edwards were today appointed joint administrators to Setanta Sport Limited and Setanta Transmissions (UK) Limited following an unsuccessful bid to make the necessary repayments.
The broadcaster has 420 employees in the UK and Ireland, and approximately 1.2 million subscribers, with channels available in three million homes.
Kahn said the business will be wound down after talks between the board, management team and financial backers failed.
‘This decision means that [Setanta] will shortly cease broadcasting to …
Deloitte’s Neville Kahn, Lee Manning and Nick Edwards were today appointed joint administrators to Setanta Sport Limited and Setanta Transmissions (UK) Limited following an unsuccessful bid to make the necessary repayments.
The broadcaster has 420 employees in the UK and Ireland, and approximately 1.2 million subscribers, with channels available in three million homes.
Kahn said the business will be wound down after talks between the board, management team and financial backers failed.
‘This decision means that [Setanta] will shortly cease broadcasting to its customers in Great Britain.
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