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Bid Tv (Channel 23 And 37) Ceased Trading

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http://forum.shoppingtelly.com/forum/showthread.php?45126-BID-TV-Can-t-pay-creditors-staff-freelancers-and-suppliers

The auditors for Sit up / Bid TV have sent a pack to everyone they owe money to - this includes suppliers, freelancers, staff etc. I have got one. They are seeking a voluntary agreement to write off£68 million worth of debt. They are offering just £600k towards what they owe. That means at best everyone will get less than 1% of what they are due.

Main site

http://www.sit-up.tv/index.html

Administrators from KPMG LLP were appointed on 17 April 2014. Sit-up Limited had ceased trading prior to the appointment.

Edited by 200p

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Thats the shopping channels on digital freeview - if you didn't know.

^changed to a clip with Marina Berry(!) and Peter Simon

Edited by 200p

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Not in the main headlines - only 2 sources found on Google, here's one of them 17th April 2014

Administrators called in as Bid and Price Drop TV's owner ceases trading

http://www.a516digital.com/2014/04/bid-and-price-drop-shopping-channels.html

~I am surprised none of the news papers or BBC news said anything.... against the narrative of recovery?

I only found out by flicking through the channels and noticed that these two have been offline for 2 days straight, and decided to dig deeper.

Edited by 200p

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How can they get to £68 Million...no doubt the bods at the top of the food chain milked it for all its worth via expenses/wages/etc etc...lots of secret bank accounts....laughing all the way to the ..um bank

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As long as its not lhe channel with the baaaad girls and even baaaaaaaader boob jobs, wiggling their phones and booty.

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2007 turnover: Sit-up: £239m (QVC £353m)
2008 turnover: Sit-up: £242m (QVC £360m)
2009 turnover: Sit-up: £172m (QVC £366m)
2010 turnover: Sit-up: £148m (QVC £387m)
2011 turnover: Sit-up: £132m (QVC £391m)
2012 turnover: Sit-up: not published yet (QVC £404m)

http://forums.digitalspy.co.uk/showthread.php?t=1945937&page=25

Big drop in turnover from 2008 to 2009 after the financial crisis hit, which hit the lower social economic groups. Bid TV and Price drop TV (part of Sit-up) audience were the lower/poorer groups. The QVC shopping channel are more up market and their turnover increased! This mirrors what is happening with John Lewis and Waitrose, and the falls in the Tescos, Argos etc.

Edited by 200p

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It doesn't matter who your custom is aimed at, people do not pay high prices or low prices for rubbish.....products was made out to be worth 'pick a totally unrealistic figure from thin air' drop it to a 1p to make out they were giving it away then charge a huge amount for an overpriced phone call and postage costs...people are not that stupid, they soon cottoned on with the game they were playing....it was the model that was wrong in so many ways imo......became a laughing stock. ;)

Edited by winkie

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As long as its not lhe channel with the baaaad girls and even baaaaaaaader boob jobs, wiggling their phones and booty.

Newsnight? Think that's safe

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How the hell did they get £68million of debt?

Couple of TV cameras, some lights, few servers, shed on an industrial estate. All mounts up you know.

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How the hell did they get £68million of debt?

There is a possbility that their buyers just bought the cr.p from the other TV shopping channels.

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Couple of TV cameras, some lights, few servers, shed on an industrial estate. All mounts up you know.

£10M for each Freeview multiplex I gather. Think Bid were on Freeview Multiplex Com 5 Arqiva A, which was shared with about 17 other crappy channels (Pick, Dave, Challenge etc..) and a few radio ones too. Probably why they are all crammed on and the picture quality is appalling, as they can only just cover the fee's with advertising after buying in secondhand content.

All you can do is run a crappy shopping channel or buy in 775 s/h episodes of Homes Under The Hammer from the BBC and run adverts on it.

Peter Simon was probably a bargain though!

petersimon.jpg

Edited by aSecureTenant

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This had passed me by though I have seen the channels a couple of times (not my choice!):

TV channel Sit-Up falls into administration despite passing CVA last month

17 April, 2014 | By Tiffany Holland

TV shopping channel Sit-Up, which operates Price Drop and Bid TV, has collapsed into administration just a month after it secured a CVA.

http://www.retail-week.com/topics/marketing/tv-channel-sit-up-falls-into-administration-despite-passing-cva-last-month/5059530.article

So it did actually get that penny in the pound voluntary arrangement last month, and that still wasn't enough.

Anybody know who their main bankers were? Co-Op and Santander are the usual suspects.

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http://www.mixcloud.com/awaddock/greg-guesting-on-chuck-and-simones-sunday-roast-croydon-radio-27042014/?utm_source=redirect&utm_medium=shorturl&utm_campaign=cloudcast

Gregg Scott talks about the demise of Situp TV (Bid TV) from 13 minutes in, and a mention of patchy search for work recently (Gregg Scott is a presenter himself).....

If you like Gregg Scott, he also talks about the Michael Barrymore interview, which focuses on the audience today that revel on peoples failings rather than celebrate peoples success - earlier on that interview. And before that he comments on the dropping of the X-Factor musical in London ,at the start.

Michael_Barrymore-1-200-200-100-crop.jpg

^Michael Barrymore

The recoverh is patchy!

Edited by 200p

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