Presteigne Broadcast Hire has officially closed after administrators were unable to find a buyer for the company.
The company appointed Interpath Advisory as its administrator on 14th May. They initially focused on trading the business as a going concern while assessing options, including exploring the possibility of a sale as a going concern.
However, Interpath confirmed to TVBEurope this morning that the company has now closed.
A spokesperson for the administrators said: “Unfortunately, it has not been possible to secure a going concern sale of the business and consequently, the company has ceased to trade.
“We will be providing support to those employees who have been impacted by redundancy, including providing them with the information required to make claims to the Redundancy Payments Service.”
Presteigne provided dry hire of broadcasting equipment to the film and production industry. The company operated from two bases in the UK: one serving the London area, the South, the Midlands and Wales, and one in Warrington serving Manchester, the North of England, Scotland and Northern Ireland. It employed circa 40 people.
The decision to call in the administrators was taken in response to recent challenging trading conditions, with Interpath initially engaged in April 2024 to undertake an assessment of Presteigne’s options.
Presteigne is the latest UK-based media company to close following the collapse of both Televideo and ProCam Take 2 last year.
