[IBM]

IIRC Sit-up went bump in April 2014, and the entire company went into administration - the TV channels, the company, the website, behind the scenes stuff, the lot. Even Peter Simon had to move. The entire operation was later dissolved.

Somebody later bought the intellectual rights a few months later with a view presumably to relaunch the whole operation.
But that's as far as it went.

This thread on the blue place might be of interest:
www.tvforum.co.uk 

The relaunch never happened, but bid.tv as it stands is nothing to do with the original company.

Edit - this might be of interest:
beta.companieshouse.gov.uk 

(, in particular the "Statement of administrator's proposal" from 12th June 2014) - the company had been in trouble for months, but the clues were there when they changed the channel format)

Cheers for the info. Was a bit surprised to see a website still functional but that explains it nicely. Someone obviously still has an auto-renew set to keep everything in place site-wise.