Troubled broadband provider calls in administrators

Wed, 08 Nov 2017 | ADMINISTRATION

A Kent-based internet service provider (ISP) which was investigated by market regulator Ofcom over allegations it was making “illegal nuisance calls” has gone into administration.

True Telecom, which was recently fined £85,000 by the Information Commissioner’s Office (ICO) after employees were discovered cold-calling potential customers and giving them the impression they were from BT, appointed TCH Ball and MI Field as joint administrators last week.

A statement on the firm’s website states that the business will continue to trade while administrators explore “the most suitable options” going forward.

The firm will now be marketed for sale as a going concern, say TCH Ball and MI Field, who also confirmed that True Telecom was “unable to manage its cash flow requirements” or meet liabilities as they fell.

It has been reported that a large proportion of True Telecom’s workforce, believed to be over 100 employees, have been made redundant. HMRC had previously issued the firm with a winding up petition over unpaid tax bills.

The firm provides internet and related services for around 8,000 businesses in the UK but attracted a total of 201 complaints via the ICO in two years from people who had requested not to be contacted via telesales.

The firm’s director Mark Baines said that landing in hot water with regulators meant that administration was almost inevitable.

He previously told Kent Online: “We’ve had this issue a few times in the past. We’re looking to go into administration and are confident we can manage the company through that process”.

Search businesses in administration
Subscribe to the Business Sale Report


Share this article



Latest Businesses for Sale

Accountancy & Financial Sectors Recruitment Agency
UK Wide

Offers permanent and temporary placements to candidates operating within the accountancy and financial sectors. Maintains long-term relationships with its clients, acting as a trusted advisor to provide impartial and effective support throughout the...

Asking Price: Offers Invited
Turnover: £1,300,000

LEASEHOLD


BEMS, ICT & Building Consultancy
South of England, UK Wide

Provides a comprehensive consultancy service within the building industry. Works with major BEMS systems manufacturers and suppliers and has extensive in-house knowledge. Offers invited.

Asking Price: Offers Invited
Turnover: £656,000

LEASEHOLD


Medical Imaging Software Solutions for Healthcare, Veterinary & Life Science Sectors
UK Wide

Strong second-tier management team in place, able to manage the day-today operations of the business. Serves 200 active clients in the healthcare, veterinary and life science sectors - with some long-standing client relationships in place since incep...

Asking Price: Offers Invited
Turnover: £640,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
13
 
Dec
 

Gateley acquires T-three | BUSINESS SALE

Commercial law and professional services firm Gateley has ac...

 
12
 
Dec
 

Appello acquires Mevivo Careline | BUSINESS SALE

Living solutions provider Appello has acquired telecare and ...

 
11
 
Dec
 

PiggyBank owner enters administration | ADMINISTRATION

DJS Limited, the parent company of payday lender PiggyBank, ...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
13
 
Dec
 

Gateley acquires T-three | BUSINESS SALE

Commercial law and professional services firm Gateley has ac...

 
12
 
Dec
 

Appello acquires Mevivo Careline | BUSINESS SALE

Living solutions provider Appello has acquired telecare and ...

 
11
 
Dec
 

PiggyBank owner enters administration | ADMINISTRATION

DJS Limited, the parent company of payday lender PiggyBank, ...

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