Thu, 20 Mar 2014 | ADMINISTRATION
Leonard Curtis is now seeking a buyer for software vendor Secure Electrans Limited, after it struggled to secure a needed cash boost.
The Cheshire-based business, which provides online payment and energy management solutions, was placed into the hands of joint administrators Alex Cadwallader and Andrew Duncan of Leonard Curtis on 17 March by the business’ management.
The management had unsuccessfully tried to get hold of further working capital from shareholders, and when a potential buyer backed out of a deal, the business was placed into administration.
The administrators are now working to sell the main business and assets of the company and its patent portfolio.
Mr Cadwallader said: “It’s clear that these patents hold a significant amount of value. We are working to ensure that the value of these is firstly protected before it is realised. Expressions of interest are currently being invited.”
The administrators have kept on part of the 30-strong workforce while they work to ascertain the financial position and viability of the business.
Founded in 2000, Secure Electrans specialises in ensuring that payments can be made securely as part of the ongoing fight against fraud. It owns three international patents that cover and manage payment/energy data from the home.
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