Request to wind up radio.
Laser Broadcasting Limited, based in Darlington, faces a petition to be placed into liquidation in the high court next week.
The broadcaster, established in 2002, owns a number of local radio stations across the UK including Bath FM, Brunel FM in Swindon, Sunshine Radio in Ludlow and Quay West in west Somerset. Its founders include Nigel Reeve, a former sales and marketing director of Classic FM.
The petition was brought by Gateshead-based venture capital company Capital North East No 1 Limited Partnership and will go before the High Court in Leeds on October 14.
A spokesman for Ofcom said: "We are aware that a petition to wind up Laser Broadcasting is due to be heard next week, and we are monitoring developments closely.
"The company is keeping us fully informed, and is seeking to ensure that the radio stations are able to continue broadcasting in the best interests of their staff and listeners."
No one from Laser Broadcasting was available to comment.