Arena Television, a UK-based outside broadcast company which ceased trading in November, borrowed almost £300m (€359m/$406m) from 55 lenders for fake assets, according to administrators for the group.
Arena was one of the UK’s largest independently-owned outside broadcast companies before it collapsed after 30 years in 2021. The company worked on the FA Cup final with public-service broadcaster the BBC and also worked with commercial broadcaster ITV on last summer’s Uefa European Championship.
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