Wimbledon Studios goes into administration

Businesses in Wimbledon Media Village were told today they must find new offices.

Businesses in Wimbledon Media Village were told today they must find new offices.

First published in News
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Wimbledon Guardian: Photograph of the Author by , Reporter

Wimbledon Studios has gone into administration, in a move which takes the production house used by ITV a step closer to takeover.

Up to 50 businesses based in the Media Village were told today they have until Wednesday, September 24, to vacate offices.

Wimbledon Studios Ltd, which operates three film and television studios totalling 21,000 sq ft of production space, is best known as home to ‘Episodes’ starring Matt Le Blanc and ‘The Iron Lady’ with Meryl Streep.

"Unfortunately Wimbledon Studios Ltd has not been able to generate the revenues required to maintain the business," according to a statement sent to tenants by Wimbledon Studios manager Nicola Poupard today.

Joint administrators Rob Croxen and Jane Moriarty from KPMG were appointed today to work with the company's principle investor and landlord, Panther Securities Plc. 

"They are currently assessing the options available to the business, but with continued support from Panther Securities Plc are hopeful that an orderly process can be conducted over the coming weeks and the Media Village can remain open until September 24", the statement read.

One business owner, who received the news of his impending eviction today, said: "As yet no one that is left from management here has spoken to us face to face and we are all worried about out deposit money and what the future hold for us in terms of office space."

He said the studios was like a "ghost town" today as catering facilities have shut down and concerned tenants discuss the situation in the corridors.

The announcement follows the resignation of Wimbledon Studios managing director Piers Read, after he disagreed with Panther on the future direction of the business.

It is understood Wandsworth-based Iranian television company Marjan Television Network has submitted a bid for the studios.

Businesses in the Media Village, where a number of post-production companies are based, have been told they will receive a visit from administrators staff in the next couple of days to discuss specific issues and concerns.

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