The teleshopping channel, previously broadcast on Sky, Freesat, Virgin Media and Freeview, has told its 250 employees they are being made redundant. Administrators have been appointed.
Ideal World suddenly ceased broadcasting at 3pm on Monday, a move that resulted in Sky removing the channel and its sister service Ideal Extra on Tuesday.
The development follows the attempted sale of the company as suppliers withdrew their support for the broadcaster. Staff were told to attend a meeting earlier today to learn their fate after being sent home on Monday.
Ideal World in administration
Representatives from Financial and Risk Advisory company Kroll have been appointed administrators of the company.
Meanwhile, a formal announcement regarding the company falling into administration, posted on the Ideal World website on Thursday afternoon, advises anyone with enquiries to email idealworld@kroll.com.
Ideal World was first launched in 2000, arriving on Freeview a few years later. The company went through a number of owners through the years before being sold in 2022 to investor Hamish Morjaria. At the beginning of June, the channel lost its slot on Virgin Media. Around the same time, a subsidiary of Sports Direct took a share in the operating company.
Ideal World is expected to be removed from Freeview and Freesat channel listings soon.
Retailers across the UK are facing challenging trading conditions as consumers tighten their belts amidst inflationary pressures. Ideal World’s fate came despite a lucrative deal with ITV which saw its teleshopping programmes being shown on ITV1 and ITV4 each night. ITV pulled the plug last weekend, replacing Ideal World’s segments with alternative programmes.
Ideal World’s main competitors were QVC, TJC and Gemporia (Primal Living).
Marc Thornham
Updated 16:08