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Iambic Media enters liquidation

Date Added: 18/10/2012  

Television production company Iambic Media has announced that it is going into liquidation.

The firm, which made programmes such as BBC2's Ewan McGregor: Cold Chain Mission through its subsidiaries including iEntertainment, will cease trading after over four years.

Former DCD Media chief executive Chris Hunt owned the company and he confirmed to Broadcast Now that the organisation is to go into liquidation.

"It is with a heavy heart that I confirm the closing of Iambic. Iambic went unpaid for having carried out a £1.5 million contract to film a concert in October 2011 and despite continuing efforts to be compensated, it has not received anything and has recognised that it cannot continue," he was quoted as saying by the news provider.

Mr Hunt would not reveal how many members of staff are going to be losing their jobs as a result of the closure of Iambic Media, or how much money is currently owed to creditors by the firm.

According to figures from business database Duedil, creditors including United Meercamera were owed more than £666,000 from Iambic, while its other liabilities totalled £676,086.

Dutch broadcast technology firm United Meercamera issued a winding up order to Iambic earlier in the year as a result of its debts being unpaid.

It was noted that this process came to a head last week at the High Court of Justice in Bristol, where it was claimed by Sarah Asplin QC that Mr Hunt, as well as his business partner Michael Henry were "extremely evasive and unreliable witnesses".

Their other business partner Iain Thompson has already stepped down from Iambic Media, while Jonathan Levi resigned before it was announced the firm would be closing down.

Mr Hunt first worked in the media as a producer at the BBC, before he became a director at LWT’s The South Bank Show and then went on to found Iambic.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Michael Beam

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