Salford based MediaCityUk has taken a knock after the biggest post-production company outside of the capital, Sumner’s Media City, was placed into liquidation by its directors.
The firm has appointed The Business Debt Advisor in the hope of achieving a sale to secure its future but all 11 employees have already been lost.
Sumner’s Media City was founded in 1992 by Andy and Janet Sumner but struggled in recent years from increased competition arising from the relocation of the BBC to MediaCity.
Bev Budsworth, managing director of The Business Debt Advisor, said: “SMCL acquired the majority of the equipment and set-up operations at The Pie Factory. However, higher than expected set-up costs and delays, meant that the company had to fund overheads with no significant income for three months.
“Turnover for the first year of trading was £800,000, with the business making a loss of £30,000, which was actually really good, given the circumstances. However, this year has seen income decline due mainly to increased competition and the slow drift of Manchester post production work back to London.”