72 employees made redundant as Nottingham business enters administration
Administrators were appointed on October 23
A Nottingham business has entered into administration, leaving 72 staff redundant.
IT firm Agilitas IT Solutions, based in Glaisdale Parkway, appointed administrators on October 23 after a period of financial difficulties.
Michael Magnay and Rob Croxen of Alvarez & Marsal Europe LLP have been appointed as joint administrators of the company.
In its most recently filed accounts, for the year to 31 March 2024, turnover had fallen from £17.7m to £13m with pre-tax losses widening from £1.6m to £8.9m.
The business was impacted by "increasing interest rates and inflationary pressures".
Following the appointment, a sale of the certain assets of the business was completed to Cameo Computer Services (UK) Ltd.
A total of 72 of the company’s 80 employees were made redundant immediately upon it entering administration.
According to its LinkedIn page, the company was founded in 1990 and specialised in technical support, repair services and logistics management.