Administrators for failed data centre equipment manufacturer and installer Cross-Guard Limited have made a number of redundancies after the business was placed into administration on Friday 28 March.
Gareth Rusling of Begbies Traynor Group and Charles Ranby-Gorwood of CRG Insolvency & Financial were appointed joint administrators of the company by its director after the business became unviable as a going concern.
Seventeen redundancies have been made at the firm’s Scunthorpe head office at Queensway Industrial Estate, with 22 staff retained to complete orders and installation contracts while the joint administrators explore any potential buyers for the goodwill and assets of the business.
A spokesperson for Begbies Traynor Group said: “It is very early days, and the joint administrators are actively working through all the financial information in detail to establish and contact all of the creditors and debtors, and to understand the cause of the failure of the business, but it is already clear that the business was unviable.
“Sadly, redundancies have already been forced, and more are expected once the current work in progress is completed and the contracted projects are fulfilled. More information will become available in coming days and weeks, but our responsibilities are to protect the interests of the creditors, and to manage the process of redundancy that is affecting the employees.”
