Sungard Availability Services (UK) Limited (02368123): administration
- Status
- Administration ended
- Administration began
- 2022-03-25
- Administrators' firm
- Teneo
- Formerly
- Comdisco Continuity Services (UK) Limited; Failsafe ROC Limited; Drivestir Limited
- Incorporated
- 1989-04-04
- Location
- Birmingham
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
- Energy costs
From the administrators' statement
Reasons for failure & financial distress — Trading was significantly impacted as a result of three
underlying issues:
I. Declining revenue in the work area recovery division - caused by the impact of the Covid-19 Pandemic whereby | customers no longer required remote disaster recovery facilities and did not renew contracts.
Administrators' statement of proposals (2022-05-26) · Companies House register