Tyseley sold in pre-pack administration
Tyseley Electrical has been sold in a pre-pack deal after entering administration, saving all six jobs at the business.
The electrical contractor based in Garretts Green in Birmingham specialised in the installation and maintenance of security systems.
Paul Masters and Andrew Poxon of insolvency specialist Leonard Curtis Business Solutions Group were appointed joint administrators following the decision of the High Court of Justice to place the company into administration on 9 February 2012.
Tyseley's business and assets were immediately sold to Dicecom following the appointment of the joint administrators.
Tyseley director Stephen Henry is also a director and shareholder in the new company, with the six staff transferring across.
Masters said: "The company entered into discussions with HM Revenue & Customs regarding settlement of [its] arrears, but agreement regarding an acceptable repayment plan could not be reached."
