NHS And O2 Contracts At Risk At Troubled 2e2

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Administrators called into reseller 2e2 are laying off staff, but hope to sell the company soon

Once seen as one of the UK’s leading systems integrators, 2e2 is now struggling and its sale could be finalised “in the very near term”, according to administrators overseeing the company’s future.

A statement from FTI Consulting, who were called in last week to handle the struggling retailer’s affairs, said there was “significant interest” in parts of the business.

2e2 black logoFTI also confirmed that 26 more staff had their employment terminated in a conference call. Around 350 employees have left the company since it went into administration last Monday.Simon Granger, one of the three joint administrators at FTI Consulting, said: “There have been a significant number of expressions of interest in acquiring the UK and international businesses and we are confident that a sale can be concluded in the very near term.”

What about the O2 venture?

The administrators are presiding over a number of UK divisions in the 2e2 group. Meanwhile, 2e2′s international businesses in Jersey, Guernsey, Ireland, Spain and Holland, which are outside the insolvency process, have been able to continue trading but will also be put up for sale.

In April 2011, 2e2 and mobile operator O2 launched Unify, a joint ventore for outsourced communications. O2 has pledged to make sure customers of its Unify joint venture, which includes G4S and Network Rail, would not suffer any disruption to their service.

In June 2011, 2e2 was viewed as a healthy takeover target for network firm Cable & Wireless. However, Cable & Wireless was itself swallowed up for £1billion by Vodafone in 2012.

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