Commercial and audio production company Yellow Media LTD has ceased trading this week after becoming insolvent.
The company, headed by former Capital FM presenter Chris Brooks, lost two contracts from its biggest clients recently which resulted in not enough business to carry on operating.
The company, established in 2008 also provided training courses and radio studio hire.
Chris told RadioToday: “It is a deeply sad time for me personally as I had started the company back in 2008 with a view to try and help young people achieve their goals within radio, with some good results. We also worked alongside an education company providing alternative education to excluded children, by using radio as a re engagement tool.
“This is something I’m still proud to be involved with now. Yellow Media also had a Commercial Production arm which we had run for the last two years and unfortunately recently we have lost the contracts from two of our biggest clients which has meant we are legally unable to continue to trade.”
In a letter to creditors, the directors of Yellow Media said: “Unfortunately the company has insufficient realisable assets and no funds with which to appoint an insolvency practitioner and thereby initiate a voluntary liquidation. We as directors are no longer in a position to further fund the company moving forward.”
Posted on Tuesday, November 5th, 2013 at 7:06 pm by RadioToday UK