British broadcaster Mike Read “declared bankrupt” - report

British broadcaster Mike Read is reported to have been declared bankrupt. According to the Daily Mirror, he has been forced to sell his entire record collection at auction to raise money owing to the tax authorities. Mr Read’s collection consists of 120,000 records and the reserve price is £750,000, though it’s expected to raise over £1 million.

Mr Read has been declared insolvent twice, according to the newspaper. It says the first order in 2008 was annulled after he paid cash owed to Horsham council. But the Mirror says that in February this year he was made bankrupt at Colchester county court, Essex.

Mr Read, who has declined to comment, is believed to be still in the process of trying to start a new national radio station in the UK called OneGold. It’s not clear who else is involved in the project, or who is financing it. If it ever launches, the station plans to use the vacant Dutch mediumwave frequency of 1395 kHz previously used by Big L, another UK station which Mr Read has worked on.

(Source: Daily Mirror)