Over 80 jobs saved after administrators sell part of stricken Notts business

Over 80 jobs have been saved at stricken Nottinghamshire firm Light Source Design after administrators from RSM sold part of the business.

The sale, to Stevenage-based M Group Services, will enable the firm’s principal customer Openreach to minimise disruption to its national fibre network build programme – and secure 83 jobs.

Tom Straw, partner at RSM UK and joint administrator, said: “We are delighted to secure a partial sale of the company’s business and assets, including the right to continue using the company’s name and brand, through a complex multi-faceted transaction in a short timeframe. This has saved jobs and allows for the best possible return to the company’s creditors. We would like to wish the purchaser all the best taking the business forward.”

Mark Turner, managing director of the Telecom Division at M Group Services, said: “We are proud to be delivering solutions for the future of UK telecommunications infrastructure. This agreement further strengthens the long-standing relationship between Morrison Telecom Services and Openreach. We look forward to welcoming our new colleagues and sub-contractors and the additional capability they bring to our business.”

Some 220 jobs were at risk when RSM were called in to Light Source Design on January 31.