Managed IT service provider hunts for buyer following administration

The Calyx Group, which supplies managed ICT services from branches in the UK and Ireland, is seeking a buyer after being placed into administration.

Calyx Group employs more than 500 staff based in the UK, Northern Ireland and Ireland. The UK and Northern Ireland sectors will be handled by joint administrators Geoff Rowley and Phil Armstrong, partners at FRP Advisory LLP. The Irish entities will be handled by Tom Kavanagh of Irish insolvency practice, KavanaghFennell.

As yet, no redundancies have been made and the group will be traded as a going-concern while a buyer of the business and assets is sought immediately.

Administrator Geoff Rowley said, “Though Calyx Group has an annual turnover of around £75 million, it was carrying a debt on the balance sheet in excess of the annual turnover. The group went into administration after it was unable to repay a secured creditor.

“The group has a solid reputation and a good customer base and as such we’re hopeful of finding a trade buyer. While we undertake this exercise, the business will continue to run as normal, with no interruption to customer service,” added Rowley.

The business has been trading under the Calyx brand since 2002, following the management buy-out of the voice, data and training businesses of Alphyra Plc.