Time 107.5 FM Limited placed into administration
13:57 23 January 2014
Time FM 107.5 Limited, which owns and operates Time 107.5 FM, was placed into administration last week.
Owner Dr Avtar Lit said that “a buyer has been found and the radio stations will continue to broadcast”.
Station manager Lorna Waters added: “We’ve got a buyer and [the administration] is not going to have any affect.
“We will remain on air and there will be no job cuts.
“Nobody will even notice.”
Dr Lit, who appears at number 84 in The Sikh 100 which lists the most powerful Sikhs worldwide, also had four other companies placed into administration.
These are Tristar Broadcasting Limited (owner of Time 106.6), London Media Company Limited, Kismat Radio Limited and Sunrise Radio Limited.
Grant Thornton UK LLP has been appointed as the administrator.