London-based UK business communications provider Inclarity Communications, which sold a mix of broadband, voice, cloud and other I.T. solutions to firms, has recently fallen into administration. Exact details of the situation remain unclear, although such issues are usually caused by financial and growth problems (debts etc.).
The company’s last publicly available accounts, which were made up to 31st July 2020 (their accounts for the most recent year have been overdue since July 2022), stated that the provider was still operating as a “going concern” given that over £1.2m had been invested in their I.T. infrastructure and customer churn levels were low. At that time, they were hoping for more growth and had 16 employees, but something clearly went wrong.
Inclarity has now begun writing to their customers in order to inform them that, on 17th November 2022, they took the decision to appoint Richard Keley and Andrew Pear – both of Moorfields Advisory Limited – to act as administrators for the business.
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Moorfields told customers that they will now make “every effort to complete a sale of the Company’s business as a going concern“, while at the same time asking to see if any of those same customers “are aware of anyone that may have an interest in purchasing the business“. In the meantime, the provider continues to function.
Getting a bit ahead of yourself there Mark. 17th November 2023?
Oops 🙂