Octavian buy-back caused by “overseas strain”
East Midlands security business Octavian went into administration last weekend because the company’s investments in overseas subsidiaries may have placed a strain on its position, it was revealed last night. Found and owner Sukhi Guhman completed a buy-back of the company yesterday and confirmed that in conjunction with other investors, his new company, Octavian Continental, had purchased the entire business, with all employees transferring across. He said: “It is vital to emphasise that there are no other changes and all office and site personnel remain as before. Our service to clients has been uninterrupted, and it is business as usual from now on”. The deal, completed by Richard Saville and Peter Blair of Begbies Traynor, saved the jobs of all 743 workers at the business.
