Helastel Limited - administration

Helastel Limited, a Bristol-based IT consultancy and software developer, entered administration on 31 March. Joint Administrators Stephen Hobson and Lucinda Coleman of PKF Francis Clark cited the impacts of COVID-19, as well as working capital constraints relating to several Russian customers who were unable transfer funds to the UK due to recent international sanctions, as the primary drivers behind the company's administration. The Joint Administrators have secured a sale of the business and assets to LHL Property Auditors. HSBC UK Bank PLC has a registered charge against the company.