Deloitte's Neville Kahn, Lee Manning and Nick Edwards have been appointed joint administrators to Setanta Sport Limited and Setanta Transmissions (UK) Limited.
David Carson, of Deloitte in Ireland, was appointed receiver to Setanta Sport Holdings Limited, Setanta Media Holdings Limited, Setanta Media Limited and Setanta Sport (PPV) Limited.
Setanta International and Setanta Ireland are not covered by these appointments.
Setanta has 420 employees in the UK and Ireland, and approximately 1.2 million subscribers, with its channels available in three million homes.
Sir Robin Miller, chairman of Setanta, said: "This is a sad day for all concerned. Since its inspired inception a number of years ago, Setanta and its financial backers, have invested hundreds of millions of pounds buying UK and international sports rights. With the hard work and dedication of its staff, a pay-TV broadcaster was created which entertained people in three million homes with top-class sport.
"Unfortunately, in a difficult and highly competitive market, and despite strenuous efforts by the board and management, it has not been possible to find sufficient additional funds in the time available to ensure its survival."
Kahn said: "After a huge effort by the Setanta board, management team and its backers, it has not been possible to save the GB business, which will be wound down in due course. This decision means that it will shortly cease broadcasting to its customers in Great Britain.
"However, the international and Ireland businesses continue to trade on air whilst we are in discussions with parties to take on those businesses as going concerns.
"Regrettably, approximately 200 employees will be made redundant in respect of the GB business. Setanta has today suspended the collection of subscription payments from customers in Great Britain.
"Setanta customers should go to www.setanta.com for further information. We can confirm that no further monthly subscriptions or direct debits will be accepted from customers of the UK business."
Last week, Setanta lost its rights to air English Premier League games over the next four seasons, after failing to make a rights payment to the English Premier League. And yesterday, Setanta lost its rights to air 60 Scottish Premier League games per season until 2013/14 after failing to make an outstanding £3m payment.
Late last night (22 June), the English Premier League awarded ESPN two live media packages for the 2009/2010 season - totalling 46 games - and one package - 23 games - from August 2010 for the following three seasons. It is understood to have paid around a total of £250m for the various rights over the next four seasons.
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