Administrators take over at sales house 8 Outdoor

Company hit by loss of two-thirds of screen portfolio in July.

8 Outdoor: one of its sites
8 Outdoor: one of its sites

Digital out-of-home sales house 8 Outdoor has gone into administration following the "termination" of its licence with landlord Insite that covered about 70 roadside screens.

Parent company SIS Digital Vision Limited and related companies SIS Digital Media Limited and Solutions in Steel Limited are also affected.

The administrators of the four companies, ReSolve, are looking to sell the businesses as a going concern.

A spokeswoman for Global, the radio and outdoor media group to which Insite licensed the screens that had been with 8 Outdoor, told Campaign that it would not be making a bid for any of the assets.

Alan Brydon, non-executive chairman at 8 Outdoor, declined to comment on the reasons for the company going into administration.

Simon Grice, chief executive of SIS Digital Vision and 8 Outdoor, could not be reached for comment.

In July, Insite said that it decided to "terminate" the licence because 8 Outdoor had fallen behind on payments.

At the time, Brydon admitted that the loss of the contract, accounting for around two-thirds of 8 Outdoor's portfolio, was "a big setback".

He also said that 8 Outdoor was hunting for new investment to "fund growth and expansion" before Insite took back its sites and that talks with investors were ongoing.