A total of 118 jobs have been lost after administrators were called into North West mobile phone processor and reseller Redeem 海角视频 and Redeem Holdings.
The two firms are entities of Macclesfield-based Redeem Group, which also has an office in Bathgate, Scotland and operations in Dubai, Estonia, Spain and Sweden.
Chris Pole and Rick Harrison from KPMG’s Restructuring practice were appointed joint administrators of the firm, which sells directly to consumers via its Envirofone website, on Tuesday.
According to KPMG, administrators have not been appointed over the non-海角视频 based entities.
The directors, with the administrators’ assistance, are taking steps to wind these businesses down under the relevant jurisdictions, with the exception of Spain, in which the administrators are seeking a purchaser for the business.
Redeem Group employed 130 staff in the 海角视频, the majority of which had been furloughed.
118 were made redundant on appointment, and the remaining staff are being retained to assist with the wind down of the business.
Chris Pole, partner and joint administrator, said: “Like many businesses, Redeem Group has been severely impacted by Covid-19 and the business has been in hibernation since March.
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"The directors had been working with customers and stakeholders to secure new funding into the business to support a reopening, but, unfortunately, this has not been possible and has led the directors to take the difficult decision of placing the company into administration.
“All affected staff have been informed and we will provide the assistance they need to make the relevant claims. We'd like to thank all employees for the support, service and co-operation they have provided to the company, both before and during the administration.
“Our focus over the coming days is to realise the remaining assets and find a purchaser for the Group’s Spanish business.”