LDD Group Limited, a Leeds technology business in its 25th anniversary with an annual turnover of around £8m year has entered Administration.
Yorkshire insolvency practitioners and business recovery experts Walsh Taylor were appointed to deal with the Administration on Thursday (April 19).
Under its stewardship, LDD Group Ltd is continuing to trade while a buyer to secure its long-term future is found.
“Our initial focus of the Administration is to engage with parties who may be interesting in acquiring this well-known business in the sector,” said Walsh Taylor director Mary Taylor.
“The priority is very much to sell the company as a viable going concern, safeguarding its future, and retaining as many jobs as possible.
“LDD Group is a family business with a good name, a proven track record, and a national customer base spanning around 30 contracts – particularly in the education and health sectors.
“Unfortunately, after the ill health of one of its directors – and the unforeseen impact this has naturally caused – the directors felt they were not in a position to carry on themselves.
“The decision to place the company into Administration offers the best opportunity for securing its survival and helping it move forward into a successful new era.”
To ensure an ongoing service is provided to all LDD clients, Walsh Taylor plans to continue to trade the company while it is searching for a buyer
LDD Group is a leading supplier of hardware, as well as providing IT support remotely and onsite to businesses, schools and public sector organisations, including the NHS.
These services include IT help desks, IT consultancy, network design telecoms, Wi-fi and internet provision, and installation of cybersecurity hardware.
It was launched from the corner of a dairy warehouse in Seacroft with just two phone lines. After bucking the economic crisis in 2008, it grew into a company which at its peak had a turnover of over £12m, employed approaching 50 staff, and counted Nike among its portfolio of clients.