JOE Media Limited (09482119): administration
- Status
- Administration ended
- Administration began
- 2020-05-18
- Administrators
- Ian Leonard, Stuart Irwin
- Administrators' firm
- KPMG
- Formerly
- Maximum Media Network Limited
- Incorporated
- 2015-03-10
- Location
- Liverpool
- Industry
- 73120 Media representation services
Why it went into administration
- COVID-19
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company trades as Joe.co.uk, an online newspaper with a significant social media presence featuring videos and news articles on sport, technology, fitness, and other topics of interest to their target demographic. It has strong operational links to Maximum _° Media, which trades as Joe.ie and a number of other brands in Ireland.
As.a new entity with high start-up costs, the Company made losses i in its early years Sof trading as it built up its follower and customer base. The levels of losses had significantly reduced in 2019 and the company envisaged a period of profit and growth in 2020.
‘In ‘March 2020 however, all sporting events were halted due to COVID-19. Simultaneously, many of the Group’s main clients paused promotional spending. The majority of the Company's revenue is not tied into long- -term contracts and, as a result, turnover was‘negatively impacted.
Administrators' statement of proposals (2020-07-14) · Companies House register