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Carpeo Ltd was established in 2004 and has state-of-the art communication systems at its Prospect Place offices in the Old Town with the capacity for up to 60 staff. The loss of a major financial sector client and operational deficits on another significant contract led to the appointment of Begbies Traynor earlier this year when the decision to sell the business was made.
Carpeo has good potential for growth moving out of the recession and several expressions of interest in purchasing the business were established at the outset. However, a combination of time and financial constraints meant that prospective purchasers were not in a position to proceed, said Julie Palmer, partner at the Salisbury office of Begbies Traynor.
In the event, a group including the companys former directors was able to finance the purchase and the business was sold out of administration on 11 May. Im pleased to report that the continuing employment of all remaining Carpeo staff was secured as part of the deal.
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