The man behind plans for the city's first television station has denied the bubble has burst three months before the launch date.
Jawad Siddiqui insists MKTV has the cash to continue –
despite legal action from a creditor and allegations that the company's own workers are not being paid.
"We have had a cash flow issue but we are fine....in fact, I have just had MKTV valued in the City at 18.9 million," he told the Citizen.
High-flying businessman Jawad, a former mobile phone salesman and estate agent, planned to "redefine the concept of community television" when he unveiled MKTV in June 2005.
But the station failed to launch this Autumn as planned and now there is a question mark over whether it will be ready for Spring next year.
"February, March....even September next year. Does it matter? We will not launch until we are ready," said Jawad.
Last week the Business Citizen revealed city IT company Virtual Viewing had threatened MKTV with a winding up order over a debt of 37,000, which Jawad disputes.
Now Virtual Viewing has pulled the plug on the website
it designed for MKTV.
Another local supplier, broadcasting specialists J13, has withdrawn its services and an offer to build a new studio solely for MKTV.
"We are not actively working with this company at the moment until we see some sort of resolution," said J13 boss Keith Goodyear.
"We have provided film crews and studio space for nothing in the past but we cannot commit any more resources.
"This is because we have lost confidence in MKTV," he said.