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Recessional opportunities

Just had this item in from the company's administrators…

BDE International Limited (BDE), an IT Services business specialising in the implementation and support of business applications entered administration on 26 May 2009.
BDE was one of the largest Sage business partners in Europe and had grown quickly as a result of making a number of acquisitions over the past 5 years. In recent times as economic conditions tightened the company became unable to service its debt and failed to agree a restructuring with major stakeholders which in turn led to the withdrawal of BDE’s business partner status with Sage.
As a consequence of this the Directors of BDE applied to the Court to appoint administrators in order to conduct an orderly winding up of BDE’s affairs. BDE employed 95 staff at offices in London, Manchester and Worcester. All staff have now been made redundant. The company serviced mainly small and medium sized clients across the UK and reported revenues of around £10 million last year.
The adsministrators add… 'In addition to conducting an orderly wind down of BDE’s affairs we are seeking potential purchasers for BDE’s intellectual property, such as its Sage Add-ins, customer base and other support contracts, all of which raises the possibility of renewed business continuity for those customers currently ‘at risk’ as a consequence of the administration of BDE.'
For further information, please contact Brian Simpson at Begbies Traynor, London office on 020 7398 3800.