Simon Plant and Daniel Plant, directors at insolvency practitioner SFP and joint administrators, have completed a sale of the business and assets of Pixel Projects Ltd (Pixel), a multi-national audio visual (AV) specialist which was in financial difficulties, saving the jobs of all 34 employees in the process
Leatherhead-based Pixel is an integrated technology AV business that designs, installs and maintains AV systems for blue chip clients all over the world, in industries ranging from education to oil and gas, medical, retail and hospitality and residential.
Having run into financial difficulty, a winding-up-petition was issued against Pixel by a trade creditor, and it was decided that administration would provide the necessary breathing space to salvage the business.
Following a review of the business, the joint administrators were able to secure a sale and all employees have been successfully transferred under TUPE to the new purchaser.
Simon Plant, SFP director and joint administrator, said: ‘All jobs have been secured and the company is now looking to push on and win more contracts. This is yet another example of how a business in financial difficulty is able to be rescued, enabling ongoing service to customers and to preserve the workforce.’
