A Norwich telecoms firm has been bought out of liquidation by an acquisitive communications brand following an appeal for help on Twitter.
Business communications services provider Comms Supply has been bought by London based communications specialist Elitetele.com for an undisclosed sum, with the buyer agreeing to take on all of the company's employees as part of the deal but liquidators have confirmed that at the time of the sale the company had more than 40 creditors who were owed a collective £400,000.
Insolvency practitioners McTear Williams & Wood said it was contacted by the firm's managing director Karl Alderton just a week before it went into liquidation as "the company's growth was causing it cashflow problems". Senior associate Adrian Sage said it was unlikely there would have been any money available for unsecured creditors if a deal had not been struck. He added that the deal ensure creditors will receive a payment proportionate to the amount they are owed.
Elitetele.com's founder and chief executive Matt Newing said he was approached by Mr Alderton via Twitter, "one entrepreneur to another", to ask for help. "I recognised his passion for the sector and empathised with his challenge of trying to maintain sales growth while being distracted by the requirements of being a managing director and a wider work-load that brings," said Mr Newing. "By buying Comms Supply we are giving Karl the opportunity to grow his business with the support of our wider team. He has created a great reputation for this business working with the IT channel to deliver connectivity and telecoms in conjunction with wider IT solutions. With us Karl will be able to ensure their clients have a highly skilled, committed customer service team to provide full back-up support when they need them. We are continually looking to improve our IT services and I know Karl and his team will bring fresh ideas and energy to what we are doing."
Elitetele.com has acquired 13 businesses since 2008 and has 150 staff in the UK and Madrid.
27 April 2017