Network DVD reportedly goes into liquidation

[C.C. 95]

Niche British film and TV company Network DVD reportedly goes into liquidation – Film Stories

Some rubbish news: the wonderful DVD and Blu-ray company Network Distributing has reportedly gone into liquidation.

filmstories.co.uk

Some rubbish news: the wonderful DVD and Blu-ray company Network Distributing has reportedly gone into liquidation.


Horrible news for physical media collectors the world over: Network DVD has reportedly gone into liquidation. One of the most vital purveyors of niche British television and films, the company released thousands of films, sitcoms and television dramas that would otherwise never have seen the light of day.

Writer and producer Richard Marson was one of the first to break the news in a tweet:

So sorry to hear of the sudden demise of @networktweets which has provided an incredible service over many years for fans of vintage British TV and film. It is truly the end of an era and of the steady liberation of eclectic niche material from archives.
— richardmarson (@richardmarson2) May 31, 2023

The news comes as a major blow not only to those who collect vintage television and films, but it also raises the question of who will take over the mantle. Its archive of releases is vast, and most of it is not available on any streaming services, leaving a gaping hole in the physical media landscape.

Though Network has yet to put out an official statement, the news spread over social media and their website is down.

 

[paulboland]

Confirmed by Gerry Anderson

 

[C.C. 95]

Terrible news. Who will take up the mantle now?

 

[Lollard2002]

I'll wait until Network themselves tell us what's going on. Not interested in second hand news. I suspect they are trying to salvage the situation and news like this without official confirmation is just speculation.... Clearly something has happened as they site is now down but I'd rather hear direct. Hopefully something can be salvaged.

 

[paulboland]

I'll wait until Network themselves tell us what's going on. Not interested in second hand news. I suspect they are trying to salvage the situation and news like this without official confirmation is just speculation.... Clearly something has happened as they site is now down but I'd rather hear direct. Hopefully something can be salvaged.

It's been confirmed by people who work with them on releases

 

[C.C. 95]

I'll wait until Network themselves tell us what's going on. Not interested in second hand news. I suspect they are trying to salvage the situation and news like this without official confirmation is just speculation.... Clearly something has happened as they site is now down but I'd rather hear direct. Hopefully something can be salvaged.

The Anderson Entertainment post is pretty definitive. They worked directly with Network.

 

[Lollard2002]

The Anderson Entertainment post is pretty definitive. They worked directly with Network.

Does seem very sudden. I have a feeling there is more to this than meets the eye...

 

[Lollard2002]

It's been confirmed by people who work with them on releases

Then I suspect we will now see a rights grab by the various labels. Please don't let Simply media get their hands on Freemantle....

 

[C.C. 95]

Does seem very sudden. I have a feeling there is more to this than meets the eye...

Yeah, the suddenness of it is startling. As someone pointed out on another site (with screenshot), Network had just the previous day tweeted out a message like it was business as usual.
I'm less concerned about getting stuff in a liquidation sale than I am about who will take their place (if anyone at all). Like Flicker Alley, Warner Archive, etc.- they were providing a genuine dual service of putting out rarer material and keeping the history of past UK TV/film alive and available.
I didn't get a ton of stuff from them (as I am not very well versed in UK cinema/TV of the past) - but I loved knowing that it was there.
(thank god I have that Monty Python Norwegian Blue box set!)

 

[Lollard2002]

Yeah, the suddenness of it is startling. As someone pointed out on another site (with screenshot), Network had just the previous day tweeted out a message like it was business as usual.
I'm less concerned about getting stuff in a liquidation sale than I am about who will take their place (if anyone at all). Like Flicker Alley, Warner Archive, etc.- they were providing a genuine dual service of putting out rarer material and keeping the history of past UK TV/film alive and available.
I didn't get a ton of stuff from them (as I am not very well versed in UK cinema/TV of the past) - but I loved knowing that it was there.
(thank god I have that Monty Python Norwegian Blue box set!)

I was seriously impressed with Saber of london and had hoped to see classics like "The Champions", "Follyfoot" or "Catweazle" make it to blu-ray. I think there as a major project involving "On the Buses" being worked on so yep the suddenness of all this is weird. I'm wondering if it's connected with the massive failure of American banks at the minute as they are folding at an alarming rate... And I'll seen a lot of local business hit the buffers over the past few months.

 

[C.C. 95]

I was seriously impressed with Saber of london and had hoped to see classics like "The Champions", "Follyfoot" or "Catweazle" make it to blu-ray. I think there as a major project involving "On the Buses" being worked on so yep the suddenness of all this is weird. I'm wondering if it's connected with the massive failure of American banks at the minute as they are folding at an alarming rate... And I'll seen a lot of local business hit the buffers over the past few months.

It was a UK business. I doubt they had any financial dealings with American banks.

 

[paulboland]

I wonder does this also now affect Network Distributing deal with iconic British horror label Hammer Films that resulted in a new business venture Hammer Studios Ltd been set up that happened in November 2021
Hammer Studios will invest substantially both in restoration and new production development from both its owned and newly created IP.

Hammer Studios Ltd was set up by Network’s managing director Tim Beddows and financial director Jonathan Lack and Hammer CEO Simon Oakes
Tim Beddows the founder and managing director of Network Distributing died suddenly on November 18 2022 he was only 59 if you was not aware

There is a new film Dr Jekyll from Hammer Studios ltd that is due to be released sometime in 2023 or 2024 staring Eddie Izzard
The film production might have got delayed in regards to the original planned release timeframe
Production of the film only started recently

I wonder was this new investment deal that resulted in Hammer Studios Ltd been set up in 2021 was this a issue that might have affected Network Distributing financial performance

 

[Lollard2002]

It was a UK business. I doubt they had any financial dealings with American banks.

Depends whom their creditors were.....

 

[paulboland]

Companies House details in regards to Network Distributing has been updated

It's now been confirmed network went into
voluntary liquidation

NETWORK DISTRIBUTING LIMITED overview - Find and update company information - GOV.UK

NETWORK DISTRIBUTING LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

 

[JackRegan]

Examination of Network's annual returns shows assets of £7.5 million.

when debits and credits have been taken into account there was a [rofit of £500k

So whatever the reason it wasn't because the business was no longer viable,

 

[paulboland]

Examination of Network's annual returns shows assets of £7.5 million.

when debits and credits have been taken into account there was a [rofit of £500k

So whatever the reason it wasn't because the business was no longer viable,

Network was no longer viable they had huge amount of debts
There has a huge amount of deficiency
Statement of affairs June 2023

NETWORK DISTRIBUTING LIMITED filing history - Find and update company information - GOV.UK

NETWORK DISTRIBUTING LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

 

[JackRegan]

That's simply not the case Paul.
If you scroll down the statement of affairs you will see assets massively outstrip debits,
That is also mirrored in the last accounts show a little lower down the same page.
They were very far from insolvent and had been making a steady profit year on year.

Voluntary liquidation very rarely reflects insolvency and that is the case with Network.

What you're looking at isn't a full or even remotely accurate deficiency account. That would begin by quoting the last verifiend yearly returns which show a clear profit. On the other hand this shows only what it wants the readers to see. As[it has no true legal standing they can get away with it. Nonetheless, it still only shows a deficiency of just over £40k gross and £22k net, which is outstripped by assets in the millions, and they're not even all shown.

I learned bookkeeping and accountancy at school.

 

[paulboland]

That's simply not the case Paul.
If you scroll down the statement of affairs you will see assets massively outstrip debits,
That is also mirrored in the last accounts show a little lower down the same page.
They were very far from insolvent and had been making a steady profit year on year.

Voluntary liquidation very rarely reflects insolvency and that is the case with Network.

What you're looking at isn't a full or even remotely accurate deficiency account. That would begin by quoting the last verifiend yearly returns which show a clear profit. On the other hand this shows only what it wants the readers to see. As[it has no true legal standing they can get away with it. Nonetheless, it still only shows a deficiency of just over £40k gross and £22k net, which is outstripped by assets in the millions, and they're not even all shown.

I learned bookkeeping and accountancy at school.

Six short months after the loss of Tim Beddows as news emerged on Wednesday May 31st 2023 that Network had sadly entered liquidation.
Its loss was keenly felt, as it had done so much over a 25-year span to liberate material from out of the vaults. Beddows’ partner Juan Veloza would release a statement in July 2023, saying despite their best efforts, Network faced insurmountable challenges, and in the present economic environment it became clear that it would be impossible to continue trading, hence the winding down of the firm

 

[paulboland]

Hammer Studio's Ltd
In 2021, the U.K.’s Network Distributing signed a deal with Hammer Films to form Hammer Studios Ltd.
After the death of managing director Tim Beddows in 2022, Network was liquidated as we know in May 2023 and that put and end to network involvement with the new bussiness venture Hammer Studio's Ltd

There is now a new owner of both Hammer Films and Hammer Studio's Ltd
John Gore has been purchased both hammer divisions

I'm posting this info here due to Network Distributing previous short invlovment with Hammer Studios Ltd and that it's not affected as hammer films has a new owner

https://www.hidefninja.com/community/threads/hammer-films-and-hammer-studios-ltd-purchased-by-john-gore-organisation.119481/