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24/06/2009
Setanta collapses after contract breaches |
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Setanta Sports has gone into administration after a series of contract breaches left it losing the TV rights to sporting fixtures.
The channel has ceased broadcasting after it failed to find a buyer, having run into financial trouble through a lack of subscriptions and consequently failing to pay money it owed the Scottish and English premier leagues for the rights to screen football matches.
Business lawyers will now be working to deal with the company in conjunction with administrators Deloitte, while 200 UK staff face redundancy.
Those working in the capital with Setanta may wish to speak to employment lawyers in London.
Such redundancies add to the growing list around the country as unemployment continues to rise.
Responding to the recent employment figures showing that 2.26 million are now out of work - a smaller rise than anticipated - British Chambers of Commerce chief economist David Kern said this was a sign that the economy "has moderated but it is not showing a recovery".
Written by Pauline Adams
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