Leeds-based VAR Firstnet Solutions has entered into liquidation.
According to a company statement, Firstnet Solutions is ‘no longer operating in its current format’ following ‘repeated commercially misguided decisions’.
“Sadly, repeated commercially misguided decisions have cost the company significant revenue and ultimately led to its failure, this is a very sad and devastating time for us all, our colleagues, customers, partners and suppliers. We will continue to work closely with our professional team and third-party advisors in this process”, said David Cusworth, managing director.
Details emerged last month of a £48,777 county court judgment (CCJ) served to Firstnet in January. Commenting on the CCJ at the time it was first reported, Firstnet director Angie Cusworth said: "The CCJ is in the midst of being resolved, unfortunately it was mistakenly overlooked due to the Christmas break. You will see the CCJ will be removed soon. It’s a really exciting time for us, we’re on the cusp of some very exciting blue-chip customer contracts in the datacentre."
Earlier this month, an email sent to creditors (and seen by PCR) revealed that Firstnet’s bank account had been frozen and the company was poised to enter into administration. The email confirmed that Firstnet Solutions had submitted a ‘notice of intent to appoint an administrator’ on January 19, before extending that notice on February 2.
In 2017 Firstnet opened its first data centre in a bid to expand its business. The ex-NHS data centre, was, according to managing director David Cusworth, supposed to ‘offer vital disaster recovery services to businesses’ and create more than 100 new jobs.
The full statement on Firstnet Soluion’s liquidation read: "We are deeply saddened to announce that Firstnet Solutions Limited has entered a liquidation process and is no longer operating in its current format. The stakeholders are in discussions with its’ professional advisors, in order to best protect the interests of its creditors, its employees and clients.
"Firstnet Solutions was founded in 2011 to service SME’s by providing its customers with enterprise- class IT solutions and support. Over that time Firstnet has gone from strength to strength, supplying hardware-focused solutions, tailored to its clients’ individual needs.
"Sadly, throughout 2017 challenging trading conditions, primarily relating to hardware supply costs, cash flow pressures and an underlying lack of a commercial leadership to support the business, the company suffered a major decline in sales, margins followed suit."