TV auction channel shuts up shop
With Ofcom - and the ITC before it - often accused of having no teeth, it came as some of a surprise when they doled out a £450,000 fine, amongst other things, to AuctionWorld last week.
Not too much of a surprise though - the company had also been fined £10,000 before on the same sort of grounds, and had a report on BBC's Watchdog too.
However, these teeth may have caused more trouble than might have been expected - After coming off air last Friday, AuctionWorld have now gone into administration. And, with debts of £14m, things do not look rosy for the 300 staff, or the 27,000 customers who are owed money.
But then, if the company was as misleading as it is alledged, perhaps this isn't such a bad thing...
