Sunrise Radio Group chairman has denied that its network of stations are facing closure despite the company owing over 400,000 to HM Revenue and Customs (HMRC). This excludes other amounts of debts that are owed to numerous creditors.
In a brief interview with the BBC, a defiant Lit said, “We had to cut out our loss according to what the community to could afford and there are deep problems within the Asian community because of the bank combust five years ago and so there is lack of money and lack of confidence so obviously we spend a lot less and we give more leeway to our customers than we did before.”
It was reported first on BizAsia earlier this week that the cash-strapped company was being taken to court by HMRC on Monday after a “wind-up” petition was filed against it.
The hearing takes place at the Royal Courts of Justice, 7 Rolls Buildings, Fetter Lane, London EC4A 1NL, on Monday 2nd September at 10:30 after which it will be clear on whether the stations will be able to continue or declared bankrupt.
Refusing to elaborate on the amount of debt Sunrise Radio Group was under, a HMRC spokesman told BizAsia
that for legal reasons, HMRC cannot discuss the tax affairs of individual businesses. It said, “HMRC۪s aim is not to wind up companies but to collect, as efficiently as we can, the debts that are due, using the range of powers available to us. HMRC only initiates winding-up action where it believes this is the best course of action to protect the interests of the Exchequer, in respect of a particular debt.”
HMRC added, “Anyone who is struggling to pay an HMRC debt should call us. HMRC has an outstanding track record in supporting those who are experiencing genuine difficulty paying their debts, and this approach will continue.”
Over the past few months, Sunrise Radio Group has shut down its digital radio services in the West Midlands and Scotland to save costs and furthermore axed its Sunrise TV channel and closed down its radio services on digital television.
Sunrise Radio was the first independent Asian radio station in the UK. It started broadcasting in November 1989.