Stricken AdTech Mirriad may yet be saved despite spending five months in administration.
The listed virtual in-content advertising technology company, founded in 2015, failed to secure emergency funding early this summer 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 then became apparent that a number of key supplier and employee contracts are held by Mirriad plc rather than Mirriad Limited: the directors of Mirriad plc therefore placed 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 were appointed as joint administrators of the company.
As a result, it did not publish its annual report and accounts for the year ended 31st December 2025; and this morning it confirmed that it would not publish results for the six months ended 30th June 2026.
However there could be light at the end of the tunnel as it revealed that it is currently in discussions with a third party regarding the terms of a possible investment in the company.
“This follows the joint administrators’ review of options to enable Mirriad to exit administration, including a possible sale of the company’s intellectual property or an equity fundraise,” it stated.
“If completed, the proposed investment would be expected to enable the company to repay its creditors, exit administration, finalise and publish the FY25 accounts and the H1 2026 results and seek the restoration of trading in its ordinary shares on AIM.”
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 warned earlier this year that trading conditions had deteriorated sharply following the escalation of geopolitical tensions in the Middle East, particularly the conflict in Iran.