Radar Radio, the East London club music station that earlier this year had to suspend broadcasting following accusations of sexual harassment and a toxic working environment, has published the annual report of its financial accounts for 2017.
The report revealed losses of just over £1.3 million, up from £826k the previous year. Radar owes more than £4m to its creditors, including MASH Holdings Limited, owned by English retail billionaire Mike Ashley, father of Radar Radio’s director, Ollie Ashley. MASH Holdings has announced its intention to support Radar financially for at least the next 12 months.
The balance sheet, filed to Companies House, unveiled also more than £500k in closing costs, with an estimated cost for the redundancy of all staff of £270k, plus £230k in fees related to the decision to cease broadcasting.
Radar’s director Ollie Ashley still have to reveal what his plans are for the future of the company.
