Major broadcast systems integrator calls in the administrator
Broadcast systems integrator TSL Systems has gone into administration.
ReSolve Partners has been appointed as the administrator of the Marlow-based company, which was founded in 1986, and bills itself as Europe’s leading creator of integrated broadcast systems.
TSL Systems has designed and delivered studios for BBC News, Ravensbourne, QVC and Globosat. It recently delivered MBC’s new facility at Dubai Studio City.
It has also designed news and sports production systems for clients such as Sky News Arabia, TVNZ and IMG, and also designs and builds Outside Broadcast vehicles.
TSL Systems most recent financial statement, for the year ended 30 June 2017, showed a turnover of £6.6m. Pre-tax profits stood at £5,988 compared to a loss of £698,153 in 2016. The company said it had net assets of £542,807.
At the time, TSL said the outlook for the company was positive as both traditional and new broadcasters were continuing to invest to keep up with technological developments and to maximise production efficiencies.
TSL Systems named Jeremy Rees as managing director in August 2017, to replace outgoing CEO Roger Henderson.
The move does not affect TSL Products, which produces broadcast equipment and has been run as a standalone, independent business to TSL Systems since 2012.
Broadcast approached TSL Systems for comment, but has had no response.