An audiobook publisher in Bath has gone into administration putting more than 100 jobs at risk.
Audio Go, formerly known as BBC Audiobooks, said the majority of staff would be made redundant.
The firm was set up in July 2010 when private investors bought out BBC Audiobooks and is 15 per cent owned by BBC Worldwide.
A spokesperson said: “Unfortunately, we were not able to conclude negotiations with a potential buyer. There will be significant redundancies made on Thursday this week.”
Accounts submitted last year to Companies House show that AudioGO reported increased profits to £2.4 million.
However, the company‘s cash situation saw a sharp reduction, with account balance falling to £346,142, compared with £1.9 million a year earlier.
The company sells over 10,000 audiobooks from its website, including titles from the BBC radio collection range.
Financial firm BDO will be appointed as administrators.
