On 26 July 2012 Jamie Playford of business rescue and insolvency firm Parker Andrews was appointed Administrator of Hallmark International Marketing Ltd t/a Web Pro IT.
The Company, formed in 1988 and based in Bournemouth, provided specialist website design and management services to almost 250 professional services firms across the UK, including accountants, solicitors, barristers, estate agents, surveyors and IFAs.
Parker Andrews engaged IT professionals to assist with the initial assessment of the Company’s business model and to ensure that websites remained live. During the following days negotiations took place and a sale of the business to a former employee was agreed.
Parker Andrews: “We faced a number of challenges but we identified that speed was the key – the Company did not own the domain names and the actual hosting of the websites was outsourced, and so to retain any value in the business whatsoever we had to ensure customers’ websites were kept running while we reviewed the business and considered the options. This required immediate negotiations with the hosting company and the coding programmers based in India. Within hours we had identified several potential purchasers and, after negotiations with two parties, we agreed a sale to a former employee of the Company. We are very pleased with securing a sale of the business within 48 hours and we wish the business well under its new ownership.
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