UK Communications Provider
Moorfields were appointed as Administrators over Inclarity Communications, a London-based UK communications provider established in 1991.
Inclarity sold a mix of broadband, voice, cloud, and IT solutions to corporate clients. The business faced financial difficulty following the departure of senior management amid declining revenues and significant investment in product development.
The company entered Administration on 17 November 2022, and Moorfields were appointed to protect assets, preserve jobs, and explore sale options.
Objectives
- Preserve value in the business and its physical and intellectual property assets.
- Maintain continuity of service for existing clients during the administration period.
- Market the business and assets to identify a suitable purchaser.
- Maximise recoveries for creditors through a structured, accelerated sale.
- Protect employment, ensuring continuity for staff wherever possible.
Moorfields’ Actions
- Assumed control of the business during a short administration trading period to stabilise operations.
- Conducted an accelerated distressed business sale process, generating significant interest in the market.
- Engaged with multiple potential buyers to identify the best strategic fit for the business, clients, and employees.
- Facilitated the sale of physical and intellectual property assets to DRD Communications, owners of VanillaIP/QudoCloud, on 13 December 2022.
- Ensured clear communication with staff, clients, and stakeholders throughout the process to maintain confidence and continuity.
Results
- A successful sale completed within less than a month of appointment, preserving the business as a going concern.
- All jobs were retained, providing continuity and stability for employees.
- Client services were maintained, including support for over 2 million phone numbers and over 25,000 users on the VOIP platform.
- Creditors achieved the best possible return given the distressed circumstances.
