Broadband installer set to go offline as administrators lined up
A North-East Lincolnshire fibre optics and utlilities infrastructure firm is on the brink of collapse with administrators set to be called in.
Telec Networks, which has its head office in Grimsby and plays a part in delivering broadband networks across the UK, has posted a notice of appointment to appoint an administrator.
Telec has operations in Grimsby, Ispwich and Norwich.
In the firm’s latest available accounts, made up to the end of March 2022, Telec Networks had a turnover of £24.2m and made a profit of £514,172 – a substantial drop on the £2.5m surplus it posted in 2021. At the time, the firm employed an average of 54 people across the year.
