European Telecom asked its lenders to appoint administrative receivers, after it failed to get rid of its loss-making distribution division within a reasonable limit.
PwC partners Steven Pearson and Michael Gercke have been appointed joint administrative receivers.
Pearson said: ‘We are currently clarifying the financial position of the companies, and are actively involved in discussions with prospective purchasers for the sale of European Telecom’s distribution business.’
The mobile telephones distributor has operations in France, Spain, Austria, Benelux and Africa as well as the UK. Overseas subsidiaries are unaffected by the announcement.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children