Alfreton seismic survey firm slips into administration
An Alfreton firm which undertakes seismic surveys has called in administrator and made eight people redundant.
Tesla Exploration International operates from a site in Alfreton, Derbyshire and employs 14 people.
The company is a 100% subsidiary of Tesla Exploration, based in Canada, which entered receivership on 25 July 2016. It undertakes seismic surveys, acquiring and reporting on data generated from land based surveys.
On 21 September 2016 Tom Lukic and Sam Woodward of EY were appointed joint administrators of Tesla Exploration International.
Shortly after their appointment, the administrators made eight redundancies and are currently exploring potential interest in the assets of the business.
Lukic said: “In the period leading up to the administration, the company’s cash flow came under severe pressure due to the receivership of the Canadian parent company and downturn in demand for the company’s services given the wider challenging conditions in the oil and gas sector.
“We are currently exploring options available but regrettably have had to make a number of redundancies following our appointment.
“We will continue to support all employees affected by redundancy at this difficult time, including helping them to make claims for amounts owed to them through the Redundancy Payments Service.”
