Page last updated at 15:57 GMT, Friday, 16 April 2010 16:57 UK

Job losses as IT firm Adventi placed in administration

Hand on laptop keyboard
The firm provides IT services to the public and private sector

A leading Scottish IT consultants has been placed into administration, with the loss of 22 jobs.

Adventi, which includes the Scotsys subsidiary, is still trading with a further 22 staff on the payroll, while administrators seek buyers.

The company, based in Bellshill, Lanarkshire, faced cash flow problems and competition from Apple stores.

It has been one of the country's fastest growing IT firms, supplying to the public and private sector.

Established in 2002, the company provides consultancy, installation and IT support services.

Technological expertise

Graham Frost, joint administrator and director at PricewaterhouseCoopers LLP said: "The company has grown successfully over the years and is well regarded by customers.

"The business had encountered cash flow problems in recent months, and while there were a number of challenges facing the company, the management had been working hard on a restructuring programme.

"Unfortunately, the board have since reluctantly concluded that this path is no longer feasible."

He added: "Our immediate focus will be to review the business and create a new cost and funding structure.

"We believe this presents an opportunity for an industry player to acquire a business that is strategically important both in terms of technological expertise and creativity and we are encouraged by the level of interest already shown."

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