Date Published: 15th March 2022
A Walsall telecoms business has been sold out of administration, preserving 14 jobs.
Mark Malone and Gareth Prince, both Partners at Begbies Traynor in Birmingham, were appointed joint administrators of WRB Solutions Limited on 9 March 2022 after the company faced significantly increased operating costs and mounting creditor pressure during the pandemic.
Following a short, accelerated sales process, they completed the sale of the business and its assets to telecoms firm, Telent Technology Services, immediately following the appointment on 9 March 2022. The sale ensures the jobs of all 14 direct staff at WRB have been preserved as well as protecting the position of many more sub-contractors engaged by the business.
Commenting on the sale, Mark Malone, Joint Administrator and Partner at Begbies Traynor, said:
“It is always heartening to achieve a swift sale of a business to an established and wellrespected operator, particularly when there are significant number of jobs on the line. What’s more, being able to do so without any cessation of trading and all the disruption that can bring is especially pleasing.
“Timing is always a key factor in being able to secure a positive outcome, which is why we always encourage businesses to seek advice as early as possible.”
WRB solutions was incorporated in September 2012 with head offices near Walsall. The company operated across the Midlands and North West area carrying out maintenance, repair
and provision work on telegraph poles and the overhead telecoms network.
Mark is a Partner based in our Birmingham office, but covers the whole Midlands region. He is a Chartered Certified Accountant and also a Licensed Insolvency Practitioner. He joined Begbies Traynor in 2005 having previously gained his ACCA qualification and now has many years restructuring and insolvency experience. He regularly advises directors, management teams and lenders of insolvency options across a range of different sectors and also frequently prepares independent business reviews.