Nearly 70 jobs in doubt as Wymondham forensics company goes into administration
PUBLISHED: 12:32 05 February 2018 | UPDATED: 08:17 06 February 2018
A specialist forensics company which works with police and court services across the country has gone into administration, putting nearly 70 Norfolk jobs at risk.
Key Forensic Services has an office in Wymondham from which it offers DNA testing services and employs 67 people.
No redundancies have been made and the company is continuing to trade while discussions take place with interested parties.
Administrators have been called in after the company saw a cashflow crunch while expanding into new markets. However, they say an agreement has been reached between the key stakeholders of the company to ensure a period of stability while they search for a buyer.
This is intended to minimise the impact on the criminal justice system and ongoing cases, and help to protect evidence in live criminal cases.
Administrators from Mazars LLP said Key Forensic Services was a “significant provider of forensic services to a number of police forces”, adding that it was seeking further offers for the business and its assets to secure its sale as a going concern.
Company turnover to the end of March 2017 was £15.3m and it employs 261 staff members at its three sites in Coventry, Warrington and Wymondham.
Joint administrator Simon Chandler said: “The company had an underlying profitable business but suffered extreme pressure on its working capital while developing new markets and opportunities.
“The working capital issues have ultimately resulted in the need to appoint joint administrators despite the efforts of senior management to obtain further funding or a purchaser.
“I would like to thank the company’s stakeholders for their support in stabilising the business so that discussions can take place with interested parties to achieve a sale of the business and assets.
“A sale would preserve jobs and provide the best outcome for stakeholders and creditors.”
Documents from the UK Accreditation Service, issued on January 16, licence Key Forensic Services’ Penfold Drive facility for forensic analysis and DNA profiling work.
This includes the testing of bodily fluids and tissues for crime scene analysis and paternity and maternity testing.
The company’s website says it is contracted to “the majority of UK police forces for the provision of forensic science services”, as well as providing contracted forensic support to British Transport Police and the National Crime Agency.