IT firm collapses resulting in 94 jobs lost
Almost 100 people have been made redundant after an IT firm called in administrators.
Dalkeith-based Hutchinson Networks provides computer support and services to businesses around the world.
Administrators KPMG said they had “no other option” than to make 94 of the company’s 109 employees redundant with immediate effect.
The remaining employees have been retained while a buyer is sought for the business and its assets.
Blair Nimmo of KPMG said: “Hutchinson Networks was a rising star in global IT network deployment.
“It had invested heavily for future growth and secured attractive contracts for the second half of 2019.
“Despite the exhaustive actions of the directors to increase sales, reduce costs and attract new investment, the business was unable to continue trading.
“We are exploring a sale of the business and assets and would encourage any interested parties to contact us as soon as possible.”
Administrators said the company, established in 2011, had experienced rapid growth after securing significant new contracts in the last two years.
However contract delays in the second half of 2018 coupled with the mixture of work secured resulted in monthly losses and cashflow pressures.