Tue, 24 Apr 2018 | ADMINISTRATION
An tech and IT firm based in Yorkshire has entered administration and is actively searching for a buyer.
Leeds-based LDD Group Ltd announced on 19th April that it had appointed insolvency practitioners Walsh Taylors as administrators and is seeing a buyer to ensure the firm's future.
The business, which has a turnover of £8m, offers a range of services including IT consultancy, the installation of cybersecurity hardware to prevent the hacking of sensitive data, IT help desk and network design telecoms. At its most successful, these services earned the firm an annual turnover of more than £12 million and employed 50 members of staff.
However, the ill health of one of the company's directors has had a large impact on the success of the firm, according to Walsh Taylor director Mary Taylor, resulting in demise of the firm's current management.
According to the administrators, LDD Group is set to continue to trade while they search for a buyer for the firm, with priority placed on selling as soon as possible to ensure it remains a viable business to safeguard the future of the brand and its employees.
"Unfortunately, after the ill health of one of its directors - and the unforeseen impact this has naturally caused - the directors felt they were not in a position to carry on themselves," said Mary Taylor. "The decision to place the company into administration offers the best opportunity for securing its survival and helping it move forward into a successful new era."
She added that Walsh Taylor are confident that the group's track record and reputation will help to secure a buyer quickly.
"LDD Group is a family business with a good name, a proven track record, and a national customer base spanning around 30 contracts."
Discover a leading innovator in data centre solutions, recognised as a top supplier both in the UK and internationally, with a robust consultancy arm contributing to a growing turnover.
Stock forecasting is a challenge for most companies, if inventory is not well managed the enterprise will face an increase in costs and even it can register losses. This stock management software solution provides an optimal forecast so that the ente...
An exciting opportunity to acquire a London-based audio technology business with a portfolio of coveted patents is now available.
11
|
Jul
|
Holiday letting agency acquires Cornish self-catering holiday specialist | BUSINESS SALE
Travel Chapter, a leading UK holiday letting agency, has ann...
11
|
Jul
|
Power services firm set to be acquired by US energy resilience group | BUSINESS SALE
The Wilmott Group Limited, a power services group with opera...
11
|
Jul
|
Dunfermline vehicle manufacturing services firm enters administration | ADMINISTRATION
A specialist manufacturing business based in Dunfermline has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.