Easter didn’t get off to a good start for ATV’s staff. Most of those left were told they no longer have jobs, the station’s liquidator said last night. A liquidator is a company, often an accounting company, whose job is to sell off anything of value for another company that is closing down.
The liquidator, Deloitte, said in its statement that the letters were issued seven days before the date when the staff would no longer be working for ATV, which is April 2.
According to the contract between ATV and the relevant employees, which was signed on March 5, the station had to give staff seven days’ notice before their jobs ended.
Deloitte, acting on behalf of ATV’s major creditor Wong Ching, did not state how many staff members were out of work. But the accounting firm said it would keep an unspecified number of security guards and engineering staff to help deal with the company’s property.
Deloitte said ATV does not have enough money to stay open after April 1.
It said the funds provided by investor China Culture Media, which had vowed to keep ATV alive after its free-to-air TV licence expires in a week, would be used to cover the station’s operating expenses up until 11.59pm on April 1.