Cussons Technology Limited has entered administration today with forty of the 54 staff being made redundant. The Broughton based company that specialises in educational technology and marine hydrodynamic research, trades from Great Clowes Street.
Patrick Lannagan, Joint Administrator from Mazars LLP, explains that the company has "experienced cash flow difficulties which have led the directors to take the difficult decision to place the Company into Administration...
"The Company has a strong skill set in the niche area of marine hydrodynamics complimented by a longstanding world recognised established brand name in the educational technology sector" he explains "With regret we have had to make a number of redundancies today but we are continuing to trade with the reduced workforce, in order find the best solution for all stakeholders.
"We will be writing to all creditors over the next few days" he adds "but would encourage anyone with an interest in taking over the business and assets to contact us."
Anyone interested should contact Joanna Siu on Joanna.siu@mazars.co.uk