Telstar Records Limited, Telstar Independent Records Ltd, which includes the Multiply Records label, and Telstar Music Holdings Limited will now come under the administration of Andrew Stoneman and Paul Williams of Menzies Corporate Restructuring.

However, Telstar Capital Radio joint venture Wildstar, which includes its flagship act Craig David, its Strong Songs publishing joint venture and media buying company Media Mix Limited are unaffected and will continue to trade normally.

Telstar Music Group co-chairman Neil Palmer says, "This is a very ...