Administrators called into wireless networking company

A SHEFFIELD business which described itself as the largest wireless networking company in the UK has closed down.

Networks by Wireless, headquartered at Sheffield Business Park, was founded in 1998 and focused on the design, installation and maintenance of fixed and mobile IP infrastructure.

Sarah O’Toole, Simon Wilson and Fraser Gray of insolvency practitioner Zolfo Cooper were appointed joint administrators of Network by Wireless this month.
The company ceased trading on appointment and all 26 employees were made redundant. The administrators are now undertaking a sale process.

In the most recent annual accounts available, for the year to the end of June 2013, it was revealed that the company made a loss of £0.85m.

Accounts said the business had seen a steadily growing upturn in orders since late 2012, but in 2013, was significantly affected by factors outside of its control, the most significant being the horse meat scandal in early 2013 which delayed delivery of a  £0.7m order.

The accounts showed that turnover had dropped to £2.6m from £3.9m.