Radar Radio shuts down with £4 million debt and £500k in closing costs

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  • The London station, which closed amid controversy this year, paid out an estimated £270k in redundancies.
  • Radar Radio shuts down with £4 million debt and £500k in closing costs image
  • Radar Radio, the East London station that recently closed following accusations of sexual harassment and a toxic working environment, has published its financial accounts for 2017. In its annual report, filed to Company House, the UK-based company reports losses of more than £1.3 million, up from £826k the previous year. It owes a debt of £4 million, mostly to MASH Holdings Limited, which is owned by retail billionaire Mike Ashley, father of Radar Radio's director, Ollie Ashley. The report confirms that Radar has the financial support of its parent company for at least the next 12 months. The accounts also reveal more than £500k in closing costs, with an estimated £270k in redundancies, plus £230k in fees related to the decision to cease broadcasting. Sixteen people were left without a job after Radar went off air on April 16th, 2018, following public statements about Radar's working environment from Pxssy Palace, Ashtart Al-Hurra and others. Subsequently, many key DJs cut ties with the station. Resident Advisor has reached out to Ollie Ashley for comment.