UK's Aferian to enter administration after sale process fails (updated)

Aferian

06/03/2026 13:12

Adds details throughout

March 6 (Reuters) - UK video streaming technology firm Aferian AFRNA.L plans to enter administration to complete the sale of its operating businesses, which would wipe out shareholders but preserve jobs and trading operations.

Aferian intends to appoint David Hudson and Philip Armstrong of FRP Advisory Trading as joint administrators.

Aferian said earlier on Friday it had terminated the previously announced sale process for the company, as it was unable to secure a bid for the entire firm.

The company said lenders support a plan to sell its operating subsidiaries, 24i and Amino, as a pre-packaged sale to a single buyer, to be undertaken immediately after it enters administration.

However, Aferian warned that the proceeds from the sale of these units would be significantly lower than its secured banking facilities of $16.5 million, yielding no returns for its shareholders.

The company's shares have been suspended.

Aferian reported over 350 employees in its annual results for the year ended November 2023.

 (Reporting by Simone Lobo in Bengaluru; Editing by Rashmi Aich and Shreya Biswas)

 ((Simone.Lobo@thomsonreuters.com, +919920570373))