Pan-European motorsports channel Motors TV is refinancing its operations having been placed into a financial safeguard procedure in its home country of France.
The Broadband TV News website said Motors TV has been entered into a so-called ‘procedure de sauvegarde’ after requesting such measures from the Tribunal De Commerce De Nanterre.
Under French law, a business facing financial difficulties can request the procedure in an effort to negotiate with creditors and reorganise its operations.
Motors TV’s Dutch spokesperson told Broadband TV News that the safeguard procedure will take six months “to protect the channel and its employees". In the meantime, the broadcaster is refinancing its operations.
The spokesperson added that distribution is not affected by the procedure.