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Hexagon Human Capital

  • BY: Andrew Hore |
  • POSTED: 15/03/2010 |

Hexagon Human Capital has been placed into administration and the management has bought the businesses.

The interim management and executive search company asked for its shares to be suspended on 18 February at 8p each, which valued the company at 1.77m.

BDO was appointed as administrator on 12 March. Management says that it tried to find a way of restructuring the business but failed and felt administration was the best course of action.

The HMRC had asked Hexagon for a revised payment proposal by 1 March. Hexagon has not been able to make scheduled payments to HMRC and could not finalise a new bank facility from Barclays either.

Brewin Dolphin has resigned as nominated adviser and broker.

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