Jobs go as university spin-out firm enters administration

A university spin-out specialising in particle science and engineering has called in administrators with the loss of all 10 jobs.

University of Leeds start-up escubed, which launched at the business incubator in 2008, grew into one of the country’s leading particle characterisation businesses – serving more than 100 companies nationally and globally, across a variety of sectors.

Escubed, based at Thorp Arch Estate in Wetherby, specialised in the creation and modification of particle systems, such as powders, creams, suspensions and pastes, and the measurement of their physical properties.

The company was originally founded by Simon Lawson, Susanne Patel and Simon Biggs who worked together at the University of Leeds. As the company grew, Lawson resigned his position at the university to focus all his efforts on the business, taking over the role of chief executive.

However, on June 19, the company was placed into administration.

Rob Adamson and Mark Ranson from Armstrong Watson were appointed as joint administrators.

Adamson said: “Immediately prior to our appointment, but in conjunction with ourselves, the Directors made the difficult decision that the Company should cease trading due to its inability to meet its ongoing financial obligations.

“Regrettably this has resulted in the redundancy of all 10 employees.  We are working with an employment specialist to ensure that the employees are able to claim what is due to them as swiftly as possible from the Redundancy Payments Service.

“It is too early to comment upon the likelihood of the return to creditors as this will depend upon the level of realisations achieved and the extent of claims received. We have engaged Pinder Asset Solutions to assist with the marketing and sale of the tangible assets however we have not ruled out a potential sale of the business in some form given its bespoke nature.”