Reading electronics engineering business have been saved
Eight jobs at a Reading electronics engineering business have been saved by corporate recovery and restructuring specialists Quantuma.
Partner Carl Jackson and director Simon Campbell were appointed administrators of Repair and Calibration Ltd on 17 March 2017.
The business had been hit by the ill health of a key director and also burdened by debts which had created cashflow problems.
The company, which was based at Unit 1, Weighbridge Row, Cardiff Road, Reading, was founded in 1984 but in the past year turnover had deteriorated significantly.
It supplied instrument calibration and repair services to companies across the UK.
The business has been sold to a new company called Repair and Cal Ltd and all eight employees have been transferred.
Carl Jackson said: “This was a long established business that had hit problems due to the ill health of one key member of staff and this precipitated cashflow and debt issues.
“We are pleased that eight jobs have been saved and hope that with a new beginning the business can now go forward.”
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For further information, please contact:
Andy Skinner, Managing Director, ASAP PR – 07990 978257
Marie Wadeson, Head of Marketing,
Quantuma LLP, Vernon House, 23 Sicilian Avenue, London, WC1A 2QS
Tel: 07464 545678
Notes to Editors
Quantuma LLP is a leading restructuring and insolvency practice delivering partner-led solutions to businesses and individuals facing financial distress with offices in London, Southampton, Marlow, Watford, Brighton and Bristol.