Berkshire

Newbury-based firm 2e2 Group makes 627 staff redundant

More than 600 people have been made redundant after a Berkshire-based IT services firm went into administration.

Administrators said they could not find a buyer for Newbury-based 2e2 Group, which employs 1,442 people in the UK, after a "deterioration in trading".

They said "large parts of the UK business" would close as "significant future funding" could not be found.

The 627 axed jobs are in Reading, Newbury, Edinburgh, Gateshead and in Heathrow and Hayes in London.

The firm's operations in Jersey, Guernsey, Ireland, Spain and The Netherlands are unaffected.

Joint administrator Simon Granger of FTI Consulting said: "Despite a significant number of initial expressions of interest in the UK business, we were unable to conclude a transaction which preserved the business as a going concern."

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