Swindon software testing firm goes into administration

Thu, 07 Jul 2016 | ADMINISTRATION

A software testing firm based in Swindon, Wiltshire, has gone into administration, citing “creditor pressure” as the main reason.

Representatives of Software Test Labs have stated that the distressed business will continue to trade while it seeks a buyer or an alternative solution. David Taylor and Mark Boughey of insolvency specialists RSM Restructuring Advisory have been brought in as joint administrators.

Mr Taylor said: "Creditor pressure has led to the company being placed into administration. The company is continuing to trade while we seek a buyer for the business as a going concern.”

The Derby Close-based company, which has international operations in Egypt, Norway and Saudi Arabia, as well as plans to expand across Australasia, Europe and North America, was founded in 2013. It currently employs around 60 people.

Thanks to its international expansion over the last couple of years, Software Test Labs has an annual turnover of £1.7 million, according to the company’s latest figures released at the start of the year. It has recently invested significantly in research and development programmes, according to the firm’s website.

Buyers who are interested in acquiring Software Test Labs have been advised to contact Alison Young at RSM Restructuring Advisory.

Find more technology and IT businesses for sale


Share this article



Latest Businesses for Sale

Recruitment Agency (Fast Sale)
North West, UK

Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...

Asking Price: Offers Invited
Turnover: £2,400,000

LEASEHOLD


Commercial Contractor (Fast Sale)
Midlands, UK Wide

Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.

Asking Price: Offers Invited
Turnover: £3,400,000

Hospitality Industry Recruitment Specialist
UK Wide

Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....

Asking Price: Offers Invited
Turnover: £3,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
Jan
 

Sample book and shade card manufacturer acquired from administration | BUSINESS SALE

The business and assets of Yorkshire-based display products ...

 
16
 
Jan
 

Northgate and Redde shareholders approve merger | MERGER

The proposed merger of listed companies Northgate and Redde ...

 
15
 
Jan
 

SSE sells retail business to OVO Energy | DIVISION SALE

Power utility SSE has announced it has completed the sale of...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
05
 
Sep
 

Grantham’s Olde Barn Hotel enters administration | ADMINISTRATION

A very highly rated hotel in Lincolnshire has fallen into ad...

 
27
 
May
 

P2P firm Lendy enters administration | ADMINISTRATION

A peer-to-peer (P2P) banking firm has collapsed into adminis...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources