Norwich business in administration leaving 13 jobless
PUBLISHED: 15:11 06 September 2019 | UPDATED: 16:21 06 September 2019
A Norwich business has fallen into administration with 13 redundancies after it was revealed that it had been loss-making since the day it was formed.
Migsolv is an IT and data specialist based in Barnard Road on the Bowthorpe Industrial Estate.
Migsolv operated out of a 60,000 sq ft building within nine acres of land at the Bowthorpe Industrial Estate, which it took over from Aviva.
Deloitte was appointed as administrator of the company on September 5.
MORE: Jarrold to open new seafood restaurant and wine bar
In a statement, a spokesman for Deloitte said: "Since its incorporation, the company has been loss-making as it has failed to achieve sufficient occupancy at its datacentres to cover the operating costs of the business. As such, the company has been reliant on funding from its parent throughout this period."
You may also want to watch:
The spokesman added: "Unfortunately, the parent is unable to continue to fund the company's losses following a failed sale attempt earlier this year."
The administrators are continuing to trade the business, on a reduced basis, over the coming weeks as part of a managed wind down.
Customers have been advised to contact the company if they have any technical, service or operational queries.
If you value what this story gives you, please consider supporting the Norwich Evening News. Click the link in the yellow box below for details.