Time's up for sale of KnowledgePool assets
Training specialist goes into administration
KnowledgePool, which employs 200 people in the UK, US and Canada, went into administration last month, citing a downturn in spending and its struggle to find funds to repay the initial acquisition price.
The firm was bought out from Fujitsu for an undisclosed sum in March 2003.
Insolvency specialist Menzies Corporate Restructuring was appointed to handle the sale of the assets and claimed there had been "a good level of interest".
Despite trying to continue business as usual, a total of 30 KnowledgePool employees lost their jobs at the end of January.
Joint administrator Andrew Stoneman said: "We are trying to keep the business operating as a going concern, but we cannot rule out further redundancies in the future."
Clive Longbottom, service director at Quocirca, said: "When budgets are reduced, training is one of the first areas to be cut.
"Companies specialising in pure training have suffered, because firms prefer employees to train in hort bursts online, rather than spend a day at a training centre."