Changes ahead for Office-Shadow

Office-Shadow, the New York, London and Paris based provider of business continuity software, training and consultancy services, has announced that its UK company has been placed into administration. An announcement is expected to be made in the next few days about the sale of Office-Shadow as a going concern to one of a number of interested parties.

Office-Shadow wrote to all its customers yesterday (3rd December), stating:

“For the last 18 months we have been looking for investment to fund the new version of the software that we have been developing since February 2008. We were a day away from signing a deal when on 5th November the investor removed the offer. We immediately sought insolvency advice and last Thursday evening, 26th November, the company was placed into administration and David Elliott and Jeremy Willmont of Moore Stephens LLP were appointed joint administrators. The company is continuing to operate normally under the control of the administrators.

“The business and assets of the company have been offered for sale and we are pleased to be able to tell you that there a number of bidders, each competing to acquire the assets of the company. They have the ability to continue providing the software and services with no break to you, the customer. All bids are very serious and are under review at this time by the administrators.”

http://www.office-shadow.com/

•Date: 4th Dec 2009• Region: UK/World •Type: Article •Topic: BC markets
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