Confidential Advice Line: 0800 063 9221

Ten jobs saved as Cirencester Business is sold out of Administration

Ten jobs have been saved and key services preserved following the sale out of administration of an established Gloucestershire company.
Firm News

| February 21st 2018

More News by Mark Malone

Ten jobs saved as Cirencester Business is sold out of Administration

Ten jobs have been saved and key services preserved following the sale out of administration of an established Gloucestershire company.

LDE Smartalarms, based near Cirencester, a provider of data network and CCTV services, appointed administrators from business recovery specialists Begbies Traynor on 16 February 2018. The business was immediately sold to Voneus Network Managed Services Limited.

“This deal boosts our ability to deliver enterprise-grade services to businesses located across the UK, and forms part of our strategy to grow our network footprint and expand our service capabilities,” said Graham Wallace, CFO, Voneus. “The team at LDE has carved out a great reputation for delivering ultra-reliable services and, much like Voneus, understands the challenges associated with serving customers in rural locations, so we see great synergies between the two companies.”

Mark Malone, Joint Administrator, commented that the company had struggled to overcome cashflow problems. After a short period of marketing and negotiation prior to the appointment, he was pleased to have completed the deal. He said: “It represents a good outcome which immediately secures ten jobs and ensures business critical services can continue without interruption to any customers.”


About the author

Mark Malone

Partner

Meet our Team of Experts

Mark is a partner in the Birmingham and Cheltenham offices. He is a Chartered Certified Accountant and also a Licensed Insolvency Practitioner. He joined the company in 2005 and has over 10 years restructuring and insolvency experience. He advises directors and management teams across a wide range of sectors.

54 Regional UK Offices

Find your local Begbies Traynor office and speak to an adviser today.

Find your Local Office
0800 063 9221

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0800 464 0871

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0161 837 1700

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
Gin festivals cancelled as organiser placed into administration
Begbies Traynor appointed as administrators of Gin Festival Limited
20 festivals planned for the coming months have been cancelled
Read More →
 
Join thousands of professionals by signing up for our updates
Analysis and Opinion from our Partners
Top Industry News
Register Now →
 

Advice you can trust

We are accredited by the following industry leading organisations

Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland

Contact the Begbies Traynor team

or Find your Nearest Office

Here at Begbies Traynor Group we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See PRIVACY POLICY

Processing...