Three people are being made redundant with the closure of independent production company All Out Productions.
Parent company Somethin' Else says the firm's Manchester office will shut by the end of the year for financial reasons.
All Out started up 16 years ago and was one of the first indies following the launch of BBC Radio Five, making their gay current affairs show Out This Week.
As well as employing three staff, All Out used freelancers to produce programmes and documentaries for airing across the BBC networks. They also worked on podcasts for Channel 4 television.
The company's won several Sony Awards, and earlier this year was named Indie of the Year at the North West's 'How-Do' media awards.
Ashley Byrne from rival indie Made in Manchester told RadioToday.co.uk: "This is very sad news indeed. Jo Meek and her team at All Out have been making top quality network radio programming for many years.
"Somethin Else has chosen to pull out of the North at a time when the area stands to benefit from the arrival of Media City UK," he added. "The BBC Trust has just ordered an increase in indie quota, 5Live has launched a ring-fenced fund specifically to kick-start more independent radio production in the region and even the commercial sector is opening up to more indie commissioning.”