Jobs saved as failed telecoms firm Mono acquired
Jobs will be switched to new owner
Telecoms network firm Mono Consultants, has been acquired in a pre-pack administration that will safeguard all 165 jobs at the Glasgow-based firm.
Interpath Advisory has sold the business and certain assets to Solutions 30 UK Services, the UK branch of Solutions 30 SE, a provider of last mile solutions to the telecommunications, energy, IT, security and retail sectors.
Established in 1997, Mono Consultants was one of the UK’s largest network infrastructure roll out service providers dedicated to the telecoms industry.
However, the management team was unable to turn the business round following a period of poor trading, and it was further challenged in March 2020 when all sites were closed under Covid restrictions.
The changes to working practices, coupled with the level of activity, have not been sufficient to tackle the operational and financial consequences of the challenging conditions caused by the pandemic.
Blair Nimmo; joint administrator and chief executive of Interpath Advisory, said: “This is unfortunately another company that has been adversely impacted as a result of COVID-19 exacerbating its funding challenges.
“We are pleased to see the business continue and wish Solutions 30 UK Services Limited and the workforce every success going forward.”