Radio Maldwyn in Newtown goes into Liquidation

Radio Maldwyn in Newtown goes into liquidation

A radio station has gone into liquidation following an extraordinary general meeting.

Shareholders of Radio Maldwyn, which has been broadcasting from a studio in Newtown, Powys, since 1993, were sent a notice of insolvency last month.

The meeting approved two resolutions – to wind up the company and to appoint liquidators.

The meeting heard a number of companies and a community group have declared an interest in buying Radio Maldwyn.

The station’s presenters stopped broadcasting last month and back-to-back music has been aired ever since.

Newtown councillor and station shareholder Russell George said: “Gerald Irwin, the appointed liquidator informed the meeting that his advice was that shareholders should accept the recommendation to wind up the company and went on to say that he had received four expressions of interest.

“Radio Maldwyn offered a good service throughout the mid Wales area and it’s sad that the station had to be wound up.

“People particularly missed the station’s news updates during the adverse weather with people tuning in to find out what was going on, but only hearing music being played back-to-back.

“I am pleased that there have been expressions of interest to take on the running of the station. What is important to me is that we continue to have a local radio station and I intend to make my own enquires and help to facilitate this.”

Powys council is understood to own the station’s studio in Newtown, which has been rented to Radio Maldwyn.

Buyer is found for Radio Maldwyn in Newtown

A potential buyer has been found for a radio station which went into liquidation last week with hopes it could be back on air in the new year.

Radio Maldwyn, which broadcast across mid Wales from a studio in Newtown, Powys, was founded in 1993.

Insolvency firm Irwin and Company said a buyer had been found and subject to contract a
deal would be struck next month.

The station’s presenters stopped broadcasting last month.

Gerald Irwin of Irwin and Company in Sutton Coldfield, near Birmingham, said he had
received offers for Radio Maldwyn from a community group, two radio stations and
someone who ran a radio station.

“A buyer has been found subject to contract,” he said.

“A number of offers were received, but I am in negotiations with one particular party.

“The sale of (Radio Maldwyn’s) assets are yet to be completed because other parties who
have an influence have to be involved,” added Mr Irwin.

“Powys County Council, which owns the studio and the transmitter, has to be satisfied the
new owner will be a suitable tenant, and Ofcom, as regulator, has to be satisfied.”

Radio Maldwyn’s shareholders were sent a notice of insolvency last month and voted to
wind up the company at a meeting last week.

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About the author

Gerald Irwin

Gerald Irwin is founder and director of Sutton Coldfield-based licensed insolvency practitioners and business advisers, Irwin Insolvency. He specialises in corporate recovery, insolvency,
 rescue and turnaround.