Mash Media is exploring the possibility of buying back the remaining 51 per cent shareholding in the company previously held by Expomedia Group.
The board of Expomedia Group issued a statement announcing the appointment of MCR as administrators on 16 January.
“On 10 November 2008 the company had announced that it had seen a significant reduction in its revenues,” a statement from the group read. “Since the announcement the board has vigorously explored options to address the company’s working capital requirement.”
The company said it had been unable to secure the required funding and the directors decided “with regret” to put the company into administration.
“It is business as usual at Mash Media,” stresses MD Julian Agostini.