Jobs saved and contractors safeguarded after sale of failed recruitment businesses

Approximately 70 jobs, and 650 contractors, have been safeguarded following the sale of three recruitment businesses based in Manchester.

On July 22, 2024, Julian Heathcote and Clare Boardman, of Teneo Financial Advisory, were appointed as Joint Administrators of Rethink Professional Services, Rethink Holdings and Digital Gurus Recruitment.

The companies’ registered office was in Manchester, with further leased offices situated in Birmingham and London

Customer trading was delivered through Rethink Professional Services and Digital Gurus Recruitment, where the former focused on enterprise recruitment solutions and the latter focused on digital and technology talent, respectively, including the provision of permanent and non-permanent recruitment solutions.

The companies generated around 95% of their revenue from the UK and five per cent from international customers.

Shortly after the Joint Administrators’ appointment they sold the business and assets of the companies to Rethink Digital Gurus Limited, for an undisclosed sum.

This company is 100%-owned by Talent International (UK) – with offices in Manchester, London, Edinburgh, Bristol, Birmingham, Berlin and Amsterdam – and which, in turn, is 100%-owned by Swipejobs.

Swipejobs is a digital platform for staffing in the US, operating in all 50 states, as well as the UK and Germany through its Talent International UK business, which specialises in supplying IT and digital contractors to both private sector and government organisations.

Under the terms of the transaction, the companies sold out of administration will continue to trade, safeguarding the jobs of all 70 staff and more than 650 contractors.

Joint Administrator, Julian Heathcote, said: “This transaction preserves the Rethink and Digital Gurus brands and the jobs of its employees, whilst providing a seamless transition for customers and contractors.

“We would like to thank all employees and other key stakeholders for their support through this process.”