A UK national newspaper reported on Sunday that photo agency Splash News is preparing to appoint administrators for it’s UK branch.
PAN is trying to clarify the move – here’s what our source close to the situation told us: “It is true that one of the companies in the Splash group has filed a notice of intention to enter administration. This is one of a number of companies in the Splash group which as a whole is continuing to operate normally. Although there is no guarantee that the company in question will enter administration as a result of this filing, were it to do so it would be part of a wider restructuring plan, under which the Splash Group as a whole will continue to trade as normal.”
More as we get it.