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Chris P Bacon 12th Nov 2021 16:56

Arena TV
 
I have just seen that Arena TV has ceased trading. Is this the end of both the BBC and Sky News helicopters?

Extra55 12th Nov 2021 23:43

Very sad news, great company with very nice professional staff and management

212man 13th Nov 2021 16:05

They donít seem to informed companies house: https://find-and-update.company-info...mpany/02261678

helihub 15th Nov 2021 22:00

212man - you are assuming that
(1) the administrator/liquidator/receiver/whoever tells CoHouse quickly, and
(2) CoHouse posts it promptly

In reality it can take up to two weeks in my experience - and then gets backdated so it looks like it happened on time ;-)

mickjoebill 19th Nov 2021 04:10

Arena Aviation
 
Several reports that Arena Aviation has also ceased trading. :(
https://www.svgeurope.org/blog/headl...eases-trading/

Rigga 19th Nov 2021 11:50

I understand two of their helicopters stopped flying some months ago....

Uplinker 20th Nov 2021 10:53

A great shame. I worked on Time Team live for Arena many years ago, and more recently the VJ day commemoration service at the National Arboretum. Making radio cameras work reliably with dozens of trees blocking the signals - but we did it !


A nice and professional bunch of people to work for; hope they are all OK.


Uplinker

treadigraph 7th Jan 2022 14:53

Television company duped banks for loans worth £280m, say administrators


Arena Television, which worked on the Euro 2020 tournament, closed abruptly in November and the bosses are yet to be located
A collapsed broadcaster that worked on the Euro 2020 football tournament and Glastonbury duped banks into lending it £280m for assets that did not exist, administrators have estimated.

Arena Television, which provided outside broadcast trucks to clients including the BBC, ITV and Sky, folded in November after a serial number it provided for a piece of equipment was queried and found to be fake.

The company’s bosses, Richard Yeowart and Robert Hopkinson, disappeared soon after and have yet to be located.
Sorry, behind paywall:
https://www.telegraph.co.uk/business...dministrators/

johni 7th Jan 2022 16:10

Television company duped banks for loans worth £280m, say administrators

Arena Television, which worked on the Euro 2020 tournament, closed abruptly in November and the bosses are yet to be located
7 January 2022 • 6:00am
A collapsed broadcaster that worked on the Euro 2020 football tournament and Glastonbury duped banks into lending it £280m for assets that did not exist, administrators have estimated.

Arena Television, which provided outside broadcast trucks to clients including the BBC, ITV and Sky, folded in November after a serial number it provided for a piece of equipment was queried and found to be fake.

The company’s bosses, Richard Yeowart and Robert Hopkinson, disappeared soon after and have yet to be located.

The scale of the suspected fraud has now been revealed in a new report from administrators at Kroll that have taken control of Arena and are seeking to recover funds for creditors.

They said Arena had borrowed about £282m from 55 lenders supposedly to buy equipment.

However, a review of the kit held by the company found it “does not hold the vast majority of assets purportedly acquired”.

The administrators said the only funds they had located was £2,761 in petty cash at Arena’s offices and no “significant” sums were expected to be recovered from its bank accounts.

Broadcasting trucks, helicopters, planes, camera equipment, vehicles, furniture and office equipment owned by the firm are now being sold off to raise funds.

Lenders owed money by Arena include Virgin Money UK, formerly known as CYBG, as well as NatWest, Close Brothers and Shawbrook.

The administrators said they were also investigating why the business was closed so abruptly, the disappearance of the directors, the discovery of vast debts that were not disclosed in accounts and alleged “misinformation” provided to lenders and other parties.

Arena was founded by Mr Yeowart in 1988 to provide outside broadcasting trucks and helicopters to cover sporting events.

But on November 10 the firm's employees, some of whom were on their way to broadcasting jobs, were abruptly told the business had ceased trading and that they should return equipment to the head office in Redhill, Surrey.

The announcement came after an investigator working for one of Arena’s lenders attempted to verify the serial number of a piece of equipment the company claimed to own but was told it did not exist.

“The directors appear to have taken the decision to cease trading shortly thereafter, resulting in the aforementioned email being sent,” the administrators said.

Neither Mr Yeowart or Mr Hopkinson have been located since then.

The company was granted £800,000 in taxpayer loans during the coronavirus crisis and staff who were furloughed were reportedly told to come in to work regardless in a breach of the rules.

mickjoebill 15th Jan 2022 01:51

Interview with the company handling the auction of the TV equipment, who mentions aviation assets have already been sold via the banks.



Mjb


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