Collapsed IT firm Hutchinson Networks sold by administrators

Paul Hutchinson, founder and chief executive of Hutchinson Networks. Photo: Iain Robinson
Paul Hutchinson, founder and chief executive of Hutchinson Networks. Photo: Iain Robinson
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Hutchinson Networks, the Edinburgh-based tech firm that last month went bust with the loss of almost 100 jobs, has been sold to an overseas buyer.

In a deal which could safeguard up to 13 staff, the Scottish business has been acquired by Irish tech group PlanNet21 Communications.

Hutchinson fell into administration on 13 May after failing to raise additional investment and implement cost control measures.

Administrators at KPMG said that at the time that they had “no other option” than to make 94 staff redundant. The business retained 13 employees to provide a range of limited services to customers while KPMG explored a sale of the business and its assets.

Blair Nimmo, joint administrator and UK head of restructuring at KPMG, said there had been “significant interest” in the firm, adding: “This acquisition will provide the new owners with a fantastic base from which to expand their operations into the UK.”