text: The station, based in Toxteth, was set up as part of a government initiative three years ago and has been supported by money from the BBC licence fee.
  Another operator, Made TV, provided further support, but the BBC understands the station has struggled.
  Bay TV's chief executive said he hoped it would be sold as a going concern.
  Chris Johnson added he was optimistic the channel would continue.
  Peter Harold, of Skelmersdale-based adminstrators Refresh Recovery, said a meeting with the station's 20 staff had been held.
  He said more than one buyer was interested in taking over the business, "but we have a few more hoops to jump through first".
  Bay TV, which was awarded a licence in February 2013, continues to broadcast and can be viewed on Freeview and Virgin.
  In addition to news, sport and music, the station also covers arts, culture and religion.
target: The owners of Bay TV, Liverpool's local television station, have insisted it will survive despite going into administration.