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Yesterday (December 29th), the company has also said it is currently in tentative takeover talks, though its weak position is unlikely to yield a highly attractive offer, reports the Times.
According to the newspaper, a rescue attempt led by shareholders will probably depend on the attitude of Trevor Hemmings, whose Ashby Manor vehicle owns 17 per cent of the business.
Entertainment Rights was originally founded in 1999.
As well as owning children's TV favourites such as Basil Brush, Casper, Postman Pat and Rupert Bear, it also produces computer games and DVDs.
Last year, revenues were £68.1 million, up from £1.9 million in 1999.
The company has business relationships with the BBC, Five, Nickelodeon, Cartoon Network, Qubo, Hasbro and Mattel.
