Distributor Target Entertainer has gone into administration and BDO has been announced as the administrator.
The company was bought just over 18 months ago by the Metrodome Group. The company paid over £800,000 in August 2010 for Target.
Metrodome stated: “The Board of Metrodome Group plc announces that it has taken the difficult decision that Metrodome can no longer continue to provide support to its loss making subsidiary Target.
“Given the tougher than expected trading conditions for Target, as highlighted in the trading update on 21 December 2011, the board believes there is little prospect of Target returning to profitability in the near future and, together with its advisers, has conducted a thorough review of the available options for Target.”
Target distributes shows including Fifi and the Flowertots.