Setanta UK Goes Into Administration
Setanta UK has gone into administration this morning after failing to make payments to the Premier League and losing the Premier League TV rights in the UK for the 2009-2013 seasons.
The administrator Deloitte said that it would shortly cease broadcasting to customers in Great Britain but would continue to operate elsewhere. They said they would immediately stop collecting subscription payments.
About 200 employees involved with the British operations will be made redundant, the firm said. Setanta had a total of 420 employees in the UK and Ireland.
“This is a sad day for all concerned,” said Sir Robin Miller, chairman of Setanta. “Unfortunately, in a difficult and highly competitive market, and despite strenuous efforts by the board and management, it has not been possible to find sufficient additional funds in the time available to ensure its survival.”
“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,” according to Deloitte’s Neville Khan, one of the partners appointed to carry out the administration process.
“After a huge effort by the Setanta board, management team and its backers, it has not been possible to save the GB business, which will be wound down in due course.”
UPDATE: According to a written statement from the broadcaster, “Setanta’s services in the USA, Canada, Australia and Africa will continue to trade normally.”