The publisher of viral news and pop culture website Unilad has been place into administration, with Leonard Curtis Business Rescue & Recovery partners Andrew Poxon and Andrew Duncan appointed to the company.
Bentley Harrington, which trades as Unilad, has debts of £6.5m, including owing £1.5m to HM Revenue & Customs.
The company began life as a ‘banter’ page on Facebook in 2010, but now boasts 39 million followers on the platform, making it one of the world’s biggest viral publishers. It was shut down in 2012, but relaunched in 2014 under new owners Liam Harrington and Sam Bentley.
According to the administrators, it regularly achieves four billion monthly video views across nine channels.
The joint administrators are seeking offers for the business in order to “preserve jobs and maximise the return to creditors”.
The company employs more than 200 people across offices in Manchester and London.
Administration came after a hearing at a specialist Insolvency and Companies Court in London, where Judge Clive Jones heard that a creditor and directors of the firm agreed that administrators should be appointed.