Neil Morley and Howard Smith from Interpath Advisory have been appointed joint administrators of Makehappen Group Limited.
Based in Leeds, Makehappen is a provider of civil engineering work which installs fibreoptic broadband infrastructure for its clients throughout the UK.
The company was originally founded from the coming together of individuals with specialisms from across the telecoms and plant and machinery rental industries, together with its corporate shareholder FibreNation Limited, which had been founded to build a fibreoptic broadband network across the UK.
In recent months, Makehappen experienced significant pressure on cashflow after a number of contracts were withdrawn by their customers. As a result, the company was unable to continue trading and service its liabilities as they fell due, so after considering their options, the directors sought the appointment of the administrators.
The company ceased to trade shortly prior to the appointment of the administrators. With no prospect of trade resuming, the joint administrators have made all of the company’s 165 members of staff redundant.
Neil Morley, director at Interpath Advisory and joint administrator, said: “There continues to be a number of opportunities, but also challenges for businesses involved in the building of fibreoptic broadband infrastructure across the UK and unfortunately, Makehappen was the latest casualty of these challenges.
“As we commence an orderly wind-down of the business, our priority will be to provide support to all of Makehappen’s employees, including providing them with all of the information they require to make claims from the Redundancy Payments Office.”
