Sale of hosting business ensures continuity for charity clients
Saturday February 2, 2019
Sale follows appointment of Joint Administrators in February
Our Bristol team has secured the sale of EDO Consulting Limited’s web hosting business to digital development agency, Zoocha Limited.
The deal will ensure business continuity for a number of high-profile national charities.
Partners Andrew Sheridan and Gareth Morris were appointed Joint Administrators of EDO Consulting Limited on 8th February 2019.
Andrew said: “Unfortunately, cash flow difficulties forced the business to enter administration and cease trading with immediate effect, resulting in 24 redundancies. Following our appointment, we worked closely with the directors at EDO to secure the sale of its hosting and support division in a move that will ensure website and business continuity for its customers, notably a number of well-known national charities.
“Our focus is now on supporting those employees affected during this difficult time and maximising recoveries from the remaining assets, primarily the debtor book, to ensure the best outcome possible for creditors.”
We were advised by TLT LLP (legal services) and Lambert Smith Hampton (valuation services).
We worked closely with the directors at EDO to secure the sale of its hosting and support division.Andrew Sheridan Restructuring Advisory