Specialist finance provider Enterprise Group and some of its subsidiary companies have been placed into administration.
Enterprise and its Edge sourcing system were formally put up for sale in November following an unsolicited approach.
Another subsidiary, secured loan and bridging finance company Enterprise Finance, says it will continue with business as usual.
Michael Clapper, group chief executive of the Enterprise Group, says he will pursuing other opportunities as a result of Enterprise Group entering into administration.
Nick O'Reilly, director in the business recovery services team at Vantis Corporate Advisers, has been appointed as joint administrator of all of the Enterprise companies.
O'Reilly said: "I was appointed on Friday. The staff at Enterprise Broking Services were made redundant on Friday and the business has ceased.
There is pipeline work to be concluded but Enterprise Finance will do that. In terms of the Edge V2 software and products, we hope we may be able to achieve a sale to a third party but we will not have news on that until later this week."
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