CHF Media Group Limited (08153769): administration
- Status
- Administration ended
- Administration began
- 2021-12-16
- Administrators
- Anthony Davidson, Andrew Mctear
- Administrators' firm
- Lumine Partners
- Incorporated
- 2012-07-23
- Location
- Norwich
- Industry
- 59113 Television programme production activities
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Regulatory change or action
- Loss of key people
From the administrators' statement
CHF Media Group Limited (‘CHF Media” or “the Company”) was incorporated on 23 July 2012 and began trading on 10 December 2012. CHF Media’s ultimate parent company was Oakmanor Limited which initially owned 100% of the issued share capital. The purpose and business of CHF Media was to act as a holding company for a group of companies which provided production and licensing services within the children’s TV and animation industry.
In August 2012 the founders and shareholders of one of the group companies, CHF Entertainment Ltd, transferred their entire shareholding to CHF Media, making CHF Entertainment Ltd a 100% subsidiary of the Company. CHF Entertainment was an animation production company and the first project undertaken was the production of 52 episodes of a children’s TV show called Pip Ahoy! The shareholders of the ultimate parent company, Oakmanor Limited, were also shareholders of a company called CHF Pip! Plc and on 28 January 2013 they transferred their shareholding in CHF Pip! Plc to CHF Media resulting in the Company owning 50% of this entity. The finance to produce the TV show Pip Ahoy! was raised via private investors utilising the government's Enterprise Investment Scheme (EIS). CHF Pip! Plc contracted with CHF Entertainment Ltd to produce the show for them, initially with a budget of £5.3 million for the first 52 episodes. For the period up until June 2015 this was the sole income for CHF Entertainment Ltd and as such the total income for the group.
In 2014 CHF Media put together an Investment Memorandum with a view to raising up to £5 million to fund the growth and expansion of the group. The memorandum had some success as the Company was able to raise £500,000 by way of a secured loan from The JED Family Trust, a US based investment trust, and a further £850,000 in equity from private investors. This money was used to kick start the business and to open offices in Didsbury for CHF Entertainment Ltd, the production arm of the group. Also in 2014 a further company was set up, CHF Enterprises Ltd, whose purpose was to act as the fund-raising arm of the group. CHF Enterprises became an FCA authorised entity and was initially contracted to raise money for CHF Pip! Plc.
Administrators' statement of proposals (2022-01-28) · Companies House register