Specialists from business advisory firm Quantuma have completed the sale of East Sussex-based flexible office space provider Platform Nine Limited (trading as PLATF9RM) out of administration. This pre-pack sale has secured the future of the business which has premises in both Brighton and Hove, and protects jobs for all employees.
Quantuma's Sean Bucknall and Elias Paourou were appointed as Joint Administrators of Platform Nine on 30 December 2024 and with the assistance of their solicitors DMH Stallard completed the sale of the business shortly thereafter to Freedom Works, a company with significant experience in the office space sector in the region. All 26 employees from Platform Nine have transferred to the purchaser under TUPE regulations.
Founded in 2016, PLATF9RM was an established brand within Brighton and Hove, known for its creative and community-focused approach. Its premises include coworking and office accommodation and meeting rooms, with a café and events space. The business reported turnover of £2.9m in 2023. However, due to some legacy issues, Platform Nine Limited had encountered cashflow issues and was unable to restructure outside of a formal insolvency.
Jon Trigg, Director of at Freedom Works, said:
“I’m delighted to provide continuation of 26 jobs and to welcome our new colleagues into our team. PLATF9RM as well as continuing to provide meaningful employment space for the local community. We are excited to be part of the next chapter of keeping the PLATF9RM brand ethos and community in place, with the plan to grow in time.”
Sean Bucknall, joint administrator and managing director at Quantuma, responded:
"I am delighted to have achieved such a positive outcome for this reputable and well-established business. We are very pleased to have secured the long-term viability of the business, ensuring that all employees' jobs have been saved and allowing the business to continue its journey following this sale to a buyer with the ability to take Platform Nine forwards."
