Saturn 27 falls out of orbit and restructures
The deepening recession has claimed another victim, this time the consultancy and systems house Saturn 27 which called in the administrators earlier this week and has now restructured. Here is the formal statement…
Saturn27 Limited has appointed an Administrator to assist in the process of re-organising it's UK business in order to focus on it's key strengths. Saturn27 Limited was established in 2004, providing strategic consulting services to professional services firms. The company has undergone a considerable period of growth in the last couple of years with turnover increasing by 300% in the last twelve months alone. This growth has burdened the company with certain operational overheads which, in the current difficult trading conditions, have had to be reviewed.
Following a new management buyout, backed by several new key investors, the firm can concentrate on it's primary market – the provision of independent technology consulting services to the legal market. Several members of it's team of consultants have transitioned across to the new business with contracts already in place. As part of the re-organisation, the company will cease sales of third party products and concentrate on pure service delivery. The new company intends to continue working with existing software vendors to maximise customers' return on investment and get best use out of current and future technologies and is keen to explore ways of working together in order to try and minimise any losses. Existing contracts with clients will continue to be resourced and the company already has a healthy order book moving forward.
The separate North American business of Saturn27 NA LLC, based in Boston, is unaffected by this change.