TeamRock enters administration after four years
TeamRock Radio has officially ceased its service, after its parent company TeamRock went into administration with the loss of 73 jobs.
The company, founded in 2012, launched TeamRock Radio nationally on DAB in 2013 with a number of experienced radio presenters and producers based in London for a period of two years before moving to an online-only station. Earlier this year the station went presenter-free but continually denied to RadioToday that radio staff had been made redundant or that there was anything to report.
Seven staff across the company have been retained to work with administrators, according to a report in the Daily Record. TeamRock also owned a number of specialist music magazines including Classic Rock Magazine.
TeamRock was set up with former GMG Radio CEO John Myers as Chairman, who resigned earlier this year.
Appointed administrators said the business had traded at a loss for a significant period of time, with consequent constraints on the cash position.