AudioGO, the producer of the BBC’s range of Doctor Who audios, has confirmed that the company has gone into administration and that redundancies are to be made later on this week. The publisher, which employs around 100 people, filed a notice of intent to appoint administrators this past Friday.
AudioGO announced last week that the company had suspended trading due to financial problems and it was later confirmed that managing director Mike Bowen had been suspended, financial director Bradley Whittock also leaving the business.
Rachel Josephson, Head of Marketing at AudioGO said a temporary management group had been unable to sell the company despite reported interest last week.
“Unfortunately, we were not able to conclude negotiations with a potential buyer. There will be significant redundancies made on Thursday this week.”
AudioGO was founded in 2010 when private investors bought BBC Audiobooks and Worldwide continue to own a minority stake in the company. Accounts from last year show that that AudioGO reported increased profits to £2.4 million, their cash situation sharply reduced however from the previous year with cash in the bank falling to £346,142 compared with £1.9 million in 2012.
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