In a statement released this afternoon, the administrators of ITV Digital have confirmed that they are offering the business and assets of the company for sale with immediate effect.
They confirmed that they have not been able to secure additional funding “on terms that would enable them to commit to a long-term sale process”. In other words, offering the company for sale as a going concern is no longer an option. However, they added that discussions with major suppliers will continue to ascertain their willingness to continue providing services on a short-term basis whilst offers are invited for the business and assets with the aim of attempting to “maximise the value of the assets on behalf of all of the Company’s creditors.”
The statement continued “It is likely that customers will continue to receive free to air services at least in the short term whilst the sale process is concluded.”
The administrators will continue to co-operate with the ITC until the business and assets have been sold.
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