Barrow’s Abbey FM in liquidation

BARROW-in-Furness’s commercial radio station Abbey FM went into liquidation today.

In a brief statement to the stock exchange one of the station’s shareholders, the Local Radio Company (LRC), said Abbey’s owner, the Barrow Broadcasting Company, had ceased trading.

It said steps were now being taken to arrange a creditors’ voluntary liquidation but did not explain what had gone wrong at the station.

Staff at the station declined to discuss its closure, saying they had only heard the news minutes before TheBusinessDesk.com called.

They were directing enquiries to Carlisle-based newspaper publisher CN Group which holds an interest in the Barrow Broadcasting Company along with LRC which has 35%.

The Barrow Broadcasting Company beat off competition from Barrow Local Radio to win the licence in 2005.

At the time Ofcom said the combined experience of the Barrow Broadcasting Company’s shareholders “enhanced the likely ability of Abbey FM to maintain its proposed service”.

It added: “The group’s business plan was considered to demonstrate a good understanding of the local market and of the issues that the new station may face, and the ability to save costs through resource-sharing with nearby stations was felt to further enhance the strength of Abbey FM’s financial proposition.”

Ofcom said it was aware the station had closed and would be revoking the licence as a result. Both the CN Group and LRC could not be reached for comment.