Kent-based ISP True Telecom, which is under investigation by Ofcom for their handling of service migrations (here) and was recently find £85k by the ICO for “making illegal nuisance calls” that gave “the impression they were from BT” (here), has gone into administration.
The provider appointed T C H Ball and M I Field to be their Joint Administrators on 27th October 2017. Apparently a large number of staff have recently been made redundant (they previously employed over 100) and True Telecom had also come under pressure from HMRC, which was taking them to court over a petition to wind up the company (i.e. they still owned money).
According to the firm’s Director, Mark Baines, the move into administration is part of a response to the aforementioned situation. “We’ve had this issue a few times in the past. We’re looking to go into administration and are confident we can manage the company through that process,” said Baines to Kent Online.
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We note from the Companies House records that True Telecom has not filed any new accounts since September 2015 (here).
True Telecom Website Statement
T C H Ball and M I Field were appointed Joint Administrators of True Telecom Limited (“the Company”) on 27 October 2017 and now manage the business, affairs and property of the Company.
The business continues to trade whilst the Administrators explore the most suitable options for the future. The Joint Administrators contract as agents of the Company only and without personal liability.
T C H Ball and M I Field are licensed to act as insolvency practitioners in England and Wales by the Institute of Chartered Accountants in England and Wales and the Insolvency Practitioners Association respectively and are bound by the Insolvency Code of Ethics.
The joint administrators have confirmed that the company was “unable to manage its cash flow requirements” to meet its liabilities as they fell due and the business will now be marketed for sale as a going concern. We’re not sure who will want to buy a provider that has done quite a bit of damage to its reputation with recent events, but time will tell.
Meanwhile True Telecom’s website continues to promote the ISP as offering “a service like no other” on their front page, alongside references to “award winning customer service.” Some would disagree.
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