Quantuma appointed administrators of leading defence electronics firm
Administrators from corporate recovery and business advisory firm Quantuma have been appointed at Britannia 2000 Ltd, a leading defence specialist based in Maidenhead.
Partners Chris Newell and Nick Simmonds were appointed on 25 July.
The company specialises in the design, development and manufacture of specialist aircraft communications equipment used by government agencies, police forces, the military and fire services.
It also develops weapon systems as well as other defence-related systems.
The business, which employed approximately 20 people, was founded in 1997, and hit problems due to orders being delayed. All staff have been made redundant.
Chris Newell said: “The business has suffered due to large orders being significantly delayed which has caused cash flow difficulties. “A sale of the business as a going concern was not able to be achieved with the timescales available and we are now talking to multiple interested parties about the sale of the intellectual property which has been developed and is owned by the company.”