Setanta Sports goes into administration

The UK branch of Setanta Sports has gone into administration, following financial difficulties that saw bills to sporting organisations going unpaid.

A notice on the website for the broadcaster reads: "Setanta Sports customers from England, Wales, Scotland, Isle of Man and Channel Islands, please be advised that it is with great regret that Setanta GB is no longer trading".

As a result of the company's closure, around 200 of the 420-strong workforce in the UK and Ireland will lose their jobs.

Setanta is still operating in Ireland, and internationally, but was running at a £100 million a year loss in the UK after the company failed to attract enough subscribers.

"This is a sad day for all concerned", said Sir Robin Miller, chairman of Setanta said.

"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".


>