From the administrators' statement

The Company was established over 24 years ago to offer comprehensive design, installation and maintenance services for all aspects of local and wide area networks

The Company traded successfully for many years and was subject to a management buy-out (“MBO”) two years ago Since the MBO turnover has steadily declined as a result of general economic conditions

The Director believed that there was an on-going business however as a result of the Company’s inability to reduce overheads quickly enough as turnover declined, it would have been difficult to rescues the business outside and Administration procedure

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Conex Data Communications Limited (02125749)

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