Dragon’s company set to enter administration

Administrators are today being appointed at struggling Leicester cloud services company Outsourcery following a deal for the business to be sold.

The entire business and assets of Outsourcery Hosting is to be sold to GCI Network Solutions.

Partners at EY are to be appointed as administrators.

Outsourcery, which is headquartered in Manchester but has an office in Leicester said today: “In order to complete the sale, it will be necessary to appoint administrators, and the board of Outsourcery has resolved to appoint partners from EY as Administrators for this purpose. The appointment is expected to be made today, and the sale is expected to complete shortly thereafter.”

Last week, Lawrence Jones, the owner of UKFast, ruled out a deal to rescue Outsourcery, the company co-founded an owned by ex-Dragons’ Den investor Piers Linney.

This followed the suspension of trading in shares in Outsourcery with investors warned they were at risk of getting “no, or limited value” from their investment.