Light Source Design Limited – administration

Light Source Design Limited, a Nottingham-based telecoms contractor with over 200 employees, entered administration on 31 January, after reportedly running into difficulties as a result of, among other factors, delayed customer payments, bad debt, a reduction in customer spending and adverse customer credit terms. Tom Straw and Christopher Lewis of RSM were appointed Joint Administrators, and are seeking a buyer for the company’s business and assets. Meridian Structured Finance Limited has five registered charges against the company.