A listed AdTech company has plunged into administration.
The virtual in-content advertising technology company, founded in 2015, failed to secure emergency funding while a US joint venture has failed to perform.
On 29th April 2026, Mirriad Advertising plc announced the appointment of administrators to its UK operating subsidiary Mirriad Limited.
It has since become apparent that a number of key supplier and employee contracts are held by Mirriad plc rather than Mirriad Limited: the directors of Mirriad plc have therefore resolved to place Mirriad plc into administration ‘in order to protect and preserve value for creditors and stakeholders’.
Philip Reynolds of FRP Advisory and Robert Ferne of Begbies Traynor have therefore been appointed as joint administrators of the company.
“The appointment is intended to support an orderly process in respect of the company’s remaining assets and liabilities, including the realisation of the group’s intangible assets,” it stated to the London Stock Exchange.
“If creditors are repaid in full, the administrators’ current expectation is that the company may be able to exit administration on a solvent basis, following which control would be returned to the board.”
The firm has been led by CEO Louis Wakefield since May 2025, when it cut its monthly cost base to approximately £220,000.
Mirriad dynamically inserts brands into a vast range of premium television, AVOD (advertising-based video on demand), SVOD (subscription video on demand), music and influencer content.
It recently warned that trading conditions had deteriorated sharply following the escalation of geopolitical tensions in the Middle East, particularly the conflict in Iran.
The company’s ordinary shares remain suspended from trading on London’s junior AIM market.