Manchester-based failing cloud biz Outsourcery is to undertake a pre-pack administration with Vodafone partner GCI Network Solutions waiting in the wings to buy the company’s assets. “Agreement has been reached to sell substantially the entire business and assets of the company’s trading subsidiary Outsourcery Hosting Ltd to GCI Network Solutions. “In order to complete the sales, it will be necessary to appoint administrators, and the board of Outsourcery has resolved to appoint partners from EY as administrators for this purpose.” EY will be formally named as administrator today and the “sale is expected to complete shortly thereafter”, the company confirmed. And so ends the costly nightmare for investors that sunk cash into the business or individuals that bought shares in the firm.
Source: New feed