The broadcaster ITV is considering its options after taking legal advice about how money raised from its Text Santa appeal has been used by the charity BeatBullying.
Last year's Text Santa telethon appeal was shown on ITV on 20 December and raised £5.1m for six chosen charities. BeatBullying was among the beneficiaries and received £698,000.
But Third Sector revealed on Monday that BeatBullying had decided to appoint administrators because it was facing "significant financial challenges". For at least the past week, its website has displayed a message directing people who need help to other charities.
A note in BeatBullying’s accounts filed with Companies House for year ending December 2012 says that it hoped the money raised through Text Santa appeal would "enable the charity to pay all of its current liabilities".
A spokesman for ITV confirmed that it had made the donation earlier this year and added: "We have taken legal advice and we’re considering our options."
The accounts also show that BeatBullying secured a one-year loan of £250,000 from the Paul Hamlyn Foundation in December 2013 to cover its "short-term cash requirements".
A spokesman for the foundation said it was waiting to see what happened to the charity.
BeatBullying could not be reached for comment.