Grant Thornton calls in ITV Digital boxes
Grant Thornton, the liquidator of collapsed pay-TV company ITV Digital, is trying to recover some of the company's assets by calling on subscribers to return their set-top boxes or pay to keep them.
Grant Thornton, the liquidator of collapsed pay-TV company ITV Digital, is trying to recover some of the company's assets by calling on subscribers to return their set-top boxes or pay to keep them.
Link: LATEST: Plug pulled on ITV Digital
Each box is worth £39.99 and there could be as many as 1.1 million in the hands of subscribers although the firm admitted it had no idea how many people would comply with the demand.
The set-top boxes can still be used to pick up Freeview, the replacement service which offers 29 free channels.
In an interview with BBC Radio 5, Malcolm Shierson, joint liquidator from Grant Thornton said: ‘We’re hoping there’s a number of those subscribers who take up our offer to buy the boxes.’
Shierson disputed claims that the boxes were given free as part of the original agreement with ITV Digital, but said the box had been given ‘effectively on hire and had to be returned in circumstances where the subscriber ceased to subscribe or the service ceased’.
But, he conceded, that Grant Thornton had ‘little solution’ if people refused to comply.
ITV Digital collapsed in April this year with debts of £1.25bn and was shut down after administrators from Deloitte & Touche failed to find a buyer.
The numbers you crunch tell a story. Your expertis...
24yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe Business Distress Index for Q3 2024 from Real Business Rescue investigates how small-to-medium sized companies across England, Scotland, and North...
View articleThe Construction, Food & Drug Retailers and General Retailer sectors in particular drove the increase in ‘significant’ financial distress, up 38.6%, 4...
View articleBody Shop, Ted Baker, Farfetch, MatchesFashion and Wilko among latest retailer insolvencies. Number of businesses in trouble are the highest in five y...
View articleInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View article