A North Wales tech firm that works with hundreds of schools, colleges and universities has gone into administration with dozens of jobs at risk.
Bangor based Gaia Technologies was set up in 1992 and is a leading provider of ICT technology, products and services to educational establishments across the UK.
It has expanded rapidly in recent years and employs 150 workers at its headquarters at Parc Menai and in other UK locations.
But it has been hit by cash flow problems and last week HMRC submitted a winding up petition to the High Court.
Now Ben Woolrych and Anthony Collier, partners at specialist business advisory firm FRP Advisory LLP, have been appointed Joint Administrators of the company.
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The business continues to trade.
Anthony Collier said: “Gaia Technologies has grown rapidly over the last few years having secured a number of significant contracts, but unfortunately severe cash flow issues have resulted in it being placed into administration.
“We are now working to assess the financial position of the company and will be looking to identify parties who will take the business forward.
"We expect there to be significant interest in the company and encourage any interested party to contact us at the earliest opportunity.”
Interested parties should contact Elizabeth Rae at FRP Advisory on 0161 833 3344.
