Channel 4 gameshow Moneybags has been axed despite bringing in massive ratings, it has been reported.
The show, which was fronted by Craig Charles, will not be returning for a third series.
The series was first commissioned in 2021 before returning for a second series of 30 episodes in 2022.
At first it aired at 3pm before being moved to the sought after 5pm slot.
However, last month Youngest Media who produce the show closed down and went into liquidation, meaning Moneybags has come to an end.
An insider said: "Moneybags has a really big and loyal fan base and having Craig on board just made it perfect."
"Unfortunately Covid has once again played it’s part causing the production behind it to go bust," a source told The Sun.
Those who went on the show were given the opportunity to win a life changing sum of money.
10 new contestants were introduced at the star of each week and £1 million was divided between 100 moneybags in amounts ranging from £1,000 to £100,000.
20 bags are then chosen at random for each individual game.
One bag is also chosen to be out of play for the rest of the week.
There is a conveyor belt called the Money Belt where bags entered at one end and Craig stood by a chute at the other.
The players then go head to head in multiple rounds to try and win the different bags.
As he spoke about hosting the show, Craig previously told The Herald : "I also liked the sense of companionship and camaraderie that the show engenders, because you're with them for a few days, you know, it's a slower process, you get to know people, how much it means to them, you get to find out a bit about the personalities involved."
He then explained that he finds the show exciting himself: "I'm not faking the excitement. It's really exciting, it's edge of your pants stuff. There's a million pounds a week coming down that conveyor belt, and it can be life changing sums for people."
The Mirror have contacted Channel 4 for comment.
