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|SFP completes sale of Pixel Projects and saves all staff in process|
|Tuesday, 22 November 2016|
Nationwide insolvency practitioner, SFP, has completed a sale of the business and assets of Pixel Projects Limited (Pixel), a multi-national audio visual (AV) specialist, saving the positions of all 34 employees in the process.
Leatherhead-based Pixel is an integrated technology AV business that designs, installs and maintains AV systems for blue chip clients all over the world. Client sectors range from education to oil and gas, medical, retail and hospitality and residential.
Having run into financial difficulty, a winding-up-petition was issued against Pixel by a trade creditor. It was concluded that Administration would provide the necessary breathing space to salvage the business.
SFP’s Simon Plant and Daniel Plant were subsequently appointed Joint Administrators of the Company on 25th October 2016. Following a review of the business, the Joint Administrators were able to secure a sale and all employees have been successfully transferred under TUPE to the new purchaser.
“All jobs have been secured and the company is now looking to push on and win more contracts,” says Simon Plant. “This is yet another example of how a business in financial difficulty is able to be rescued, enabling ongoing service to customers and to preserve the workforce.”
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