Screen Technology goes into administration

The rollercoaster ride for shareholders in Screen Technology has come to an end, with the company going into administration this week.

Listed on AIM, the Ely-based company has had a long run of misfortune, with deals almost happening and then falling away due to unconnected circumstances.

The company has been developing mega screens created out of tiles, using technology from Cambridge University.

Supplier Shearline at Ely threw a lifeline at one point, but this week Screen realised it was decided to call a halt.

Chris Williams and Andrew McTear of Cambridge insolvency practitioners McTear Williams & Wood have been appointed administrators.

The firm’s Chris Bolton said every effort would be made to sell the business as a going concern.

He added that £20m had gone into it over the years and the aim would be to recover as much as possible as well as saving the remaining 10 jobs.

Screen has been suspended from the stock market, the AIM listing remains in place, and could also be sold.

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