The financial problems at Rosemary Conley Food & Fitness Ltd have been attributed to the cost of launching a dedicated television channel.
The company say since its launch Rosemary Conley TV has failed to make a return, and has been draining the company's resources 'for years'.
More than one million pounds was originally used to set the digital channel up. The magazine arm of the fitness guru's business, Quorn House Publishing Ltd, is also in trouble, with a slump in sales also being blamed for the company's financial problems.
More top news
Nosakhere Stephenson, known to his contacts as ‘Nosa’, is one of 18 men who were implicated in the supply of guns and ammunition
Heading to the shops on Black Friday? Help us tell the real story of the day by letting us know your experience.
The biggest shopping day of the year is almost upon us, so what is Black Friday and how can you get the best deals?