Plantation House managing agency, Knight Frank has seized Star Radio station’s equipment for failing to pay rental arrears amounting to K2.5 million.
The station was two weeks ago forced out of Plantation House for failing to pay monthly rentals and has since found new office premises in Limbe. However, it is failing to move into new place of work as its equipment is still in the hands of Knight Frank who are refusing to release it until the debt is settled, it has been established.
Our source within the station revealed that currently the radio station’s management is desperate for K2.5 million to settle the debt as it has run out of options on how and where to source the money to pay out the rental arrears.
“As am talking now the bosses are up and down trying to source the K2.5 million to pay out the debt so that we can move to our new offices in Limbe but its doubtful if they will be able to pay off the debt in any time soon because there seem no one willing to help us out,” said the source.
The source further revealed that reports are rife that the radio station might be sold as for years it has become a loss-making entity.
“Since the station was opened, it is making losses and reports of it being up-for-grabs started circulating towards the end of this year and with the issue of rental arrears I feel there is nothing they can do but to sell it, otherwise the radio is not making profits as other private radio stations are,” added the source.
Meanwhile, the radio station is operating directly from its transmitters at Mpingwe, Limbe where its engineers are just playing music and adverts while in between running a jingo, alerting general public that it was currently experiencing a technical problem with its transmitting equipment and that that normal broadcast will resume soon.
Star Radio was, years ago, vacated from Agma building in Maselema for failing to pay rent. The station is only private radio station that pays its employees meager salaries with a presenter getting a minimum of K5, 000 a month.