ADMINISTRATORS from Chantrey Vellacott have saved approximately 40 jobs at technology firm SafeTIC after selling it out of administration.
Specialising in biometric fingerprint technology, defibrillator technology and building security systems, SafeTIC had offices in London, Birmingham, Manchester and Edinburgh.
Joint-administrators Craig Povey and Kevin Murphy of Chantrey Vellacott DFK managed the sale of SafeTIC UK, part of the France-based SafeTIC Group. Stephen George of Squire Sanders was also involved in the deal.
SafeTIC encountered problems after accruing around £1 million of HMRC arrears in PAYE and VAT and was forced to file for administration in February.
The French firm Butler Capital Partners has purchased the company’s assets for an undisclosed sum, and will trade as Butler Safe Technologies Limited.
“The sale of the UK arm of the company to Butlers Capital Partners has saved 39 jobs across its London, Manchester and Edinburgh operations, along with field based staff,” said Povey, business recovery partner at Chantrey Vellacott’s Birmingham office.
“Under the control of new owners, the business renamed Butler Safe Technologies Ltd will focus on supplying defibrillators and biometrics access control throughout the UK.”
The select committee heard that GT had not met up with the BHS pension scheme advisers or trustees, but had done so with Deloitte, Arcadia’s pension advisers
Mather boasts a quarter century of restructuring and insolvency experience gleaned across various roles at Deloitte and Begbies Traynor
Clothing firm behind Pretty Polly tights blames BHS for its collapse
BHS auditor PwC questioned over why it described the embattled retailer as a 'going concern' days before it was sold for £1