Skip to main content

joshsandiford
11th October 2018

UniLad on the brink after going into administration

The Facebook favourite could face closure, having incurred debts of over £6 million
Categories:
TLDR
UniLad on the brink after going into administration
unilad.co.uk @ Wikimedia Commons

Buyers are being sought for UniLad – one of Facebook’s biggest names – after it went into administration.

The website’s parent company Bentley Harrison is said to have debts of more than £6m, although some reports put the figure at closer to £10m.

The Manchester-based business has 39 million likes on Facebook and was named by NewsWhip as the fourth biggest publisher on the social media giant in August. It publishes viral content and it’s widely shared posts are aimed primarily at students.

The platform reportedly owes its ousted founder, Alex Partridge, £5m. According to The Drum, Lad Bible has bought Partridge’s debt and is now the site’s largest creditor.

Lad Bible is another Manchester-based publisher with around 33 million followers and is arguably UniLad’s biggest rival.

Partridge launched UniLad in 2010 when he was a student at Oxford Brookes University. He argued last year that he was “cut out” of the business after giving Liam Harrington and Sam Bentley, the current owners, a 66% stake in the company.

It has previously been reported at the time by Business Insider that the legal battle, which Patridge won, could “force the sale of the site.”

As a result of the company’s woes around 200 jobs are at risk but administrators at the accountancy firm Leonard Curtis are looking for a buyer.

Joint administators Andrew Poxon and Andrew Duncan said in a statement: “The business has substantial social media presence – including 60 million followers, one billion weekly reach, and four billion monthly video views across nine channels.

“The joint administrators are seeking offers for the business in order to preserve jobs and maximise the return to creditors.”

Josh Sandiford

Josh Sandiford

Deputy Editor

More Coverage

The third Union Assembly of the year debated a proposal on “outdated” language in academic settings
An investigation into student loan fraud is ongoing after millions of pounds were fraudulently taken by individuals with no intention of studying or repaying the loans
From forced closure to grand reopening – Withington’s beloved creative hub Café Blah is back, opening its new doors on May 24 at 445 Wilmslow Road
Manchester professor, Joyce Tyldesley, has been named archaeologist of the year, following a public vote