Club Asia will continue to broadcast as newly appointed administrators Rod Weston and Tony Flynn of international accountancy firm Mazars take over the running of the station.
Administrator Rod Weston commented: "The business has encountered difficulties due to current harsh economic conditions. We are keeping the station on air whilst marketing it for sale as a going concern. We have already received substantial interest and are liaising with a number of interested parties. We are hopeful that a sale will be achieved as Club Asia has a number of valuable strengths."
He added: "Media companies have really felt the strain as businesses seek to reduce costs. However, with its strong listener base and niche appeal, Club Asia has great potential to thrive as the upturn starts to take effect."
Interested parties should contact Paul Davies or Rod Weston on 020 7063 4245.