ARY Digital UK Limited (03749889): administration
- Status
- Administration ended
- Administration began
- 2011-05-19
- Administrators' firm
- Accountants Dean Sullivan
- Formerly
- The Pakistani Channel Limited; Pakistan Channel Ltd
- Incorporated
- 1999-04-09
- Location
- London
- Industry
- 9220
Why it went into administration
- Bad debts / customer insolvency
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 9 April 1999 as Pakistan Channel Ltd On 15 October 1999 its name was changed to The Pakistan: Channe] Limited which was changed further to ARY Digital UK Limited on 19 November 2003 Its first directors were Jawaid Pasha, Yasir Pasha and Zain Pasha who all resigned on 13 October 2000 and on that date Mohamad Iqbal Yackoob and Salman Iqbal were appointed as directors
The principal activity of the Company until up to June 2006 was that of producing and broadcasting television programmes for the Asian community in the UK and Europe and suffered material losses whilst carrying on this activity However, almost all the losses were financed by its shareholders and loans from its sponsors. Due to heavy trading losses, about 5 years ago, the company entered into an agreement with one of its family company engaged in the production and based in Dubai and acquired the broadcasting the broadcasting nghts Therefore, its current activity 1s that of advertising sales and marketing for 3 Satellite Television Stations for Asian markets in the UK and Europe
The target population was predominantly Asian who were invited to pay a monthly subscription To date not enough revenue was generated from the above activities. It was hoped by the directors that the advertising revenue coupled with the subscmptions revenue would eventually grow to such a level whereby the trading activities could be self financed This did not happen and one of the main reasons 1s the mix of advertising clients which in most cases are small to medium size enterprises not generating enough revenue. The company suffered the bad debts on regular basis which created further cash flow problems
Administrators' statement of proposals (2011-06-27) · Companies House register