Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Steve Absolom and Will Wright from Interpath Advisory have been appointed joint administrators of Presteigne Broadcast Hire Limited.
Presteigne provides dry hire of broadcasting equipment to the film and production industry via a wide range of comprehensive packaged systems. Headquartered in Crawley with a second site in Warrington, the company operates across a range of sectors, and employs circa 40 people.
The company has an established global client base with operations across various geographies, sectors and specialist areas within the broadcasting industry, including major sporting events, such as the Olympics and Euro 2024.
In response to recent challenging trading conditions, Interpath was initially engaged in April 2024 to undertake an assessment of Presteigne’s options.
Unfortunately, with no solvent options available, the company announced that it had entered administration on 14 May 2024.
The joint administrators are now focused on trading the business as a going concern while they assess options for the business, including exploring the possibility of a sale as a going concern.
The business continues to trade and deliver work during this time.
Absolom said: “We have already received a number of expressions of interest in the Presteigne business and expect more in the coming days. Whilst these discussions continue, we will continue to serve Presteigne’s impressive global customer base. We would like to thank the employees of the company for their understanding and support while this process is ongoing.”
