Firm that entered administration owing £4.5m bought by its same directors |
Tec Partners, a recruitment firm with offices in Norwich, is owned by Christopher Beech, Leigh Howard and Paul Kitley, and specialises in the technology, science, gaming and engineering sectors.
The firm’s holding company, the Tec Recruitment Group Limited, and its subsidiaries, Tec Partners Limited and Tec Partners (South East) Limited, all appointed administrators on May 1.
The three companies owed creditors a combined £4,549,449 – including £402,627 to HMRC.
The group has now been purchased by Tec Partners Recruitment Limited - a company set up by the three directors on April 26 this year - in a pre-pack sale for £175,000.
A total of £75,000 will be paid upfront and £100,000 in deferred instalments over 12 months.
Tec Partners, a recruitment group that entered administration owing creditors more than £4.5 million, has been purchased by a new company with the same directors, Christopher Beech, Leigh Howard and Paul Kitley (pictured). (Image: Tec Partners)
A pre-pack is when a company enters administration and its business and assets are immediately sold by the administrator, with the deal typically being negotiated before the formal appointment of insolvency practitioners.
Tec Partners, which has offices at Fuel Studios in Pottergate as well as in Reading, continues to trade as........