Staff buy-out saves Yorkshire-based high tech cable firm

Wakefield based Cable-Talk Communications, which was established in 1996, installs high tech fibre optic and voice cabling for IT and telecommunications systems across the UK.

It has offices in Wakefield and London and was placed in the hands of joint administrators David Wilson and Julian Pitts, of Begbies Traynor, on August 13.

Recent contracts included work for Lloyds TSB, the Department for Work & Pensions and HM Revenue and Customs.

Cable-Talk had grown to employ 13 salaried staff and a bank of experienced sub-contractors and had a turnover of 2.5m in 2009. The cancellation of major projects, including a large contract with HMRC led to its failure last month. Due to the early sale of the business, the administrators were not required to make any redundancies.

"Fundamentally, Cable-Talk was a sound business with a great reputation for installing hardware and cabling and was a key supplier to some very specialist technology projects," said joint administrator Julian Pitts.

"The employees, who are one of the business's key assets, are well-placed to safeguard their own livelihoods, and were able to put together the best offer to buy the business."

A company spokesman added: "We have worked very hard to help build a great business with a very good reputation for the quality of our work, and to be able to take control of our future is a massive opportunity."

The business will continue to trade as Cable-Talk and will operate initially from its bases at Calder Park, Wakefield and Merton, South London.