News: End of the line for Rotherham broadband firm
Rotherham-based Origin Broadband has become part of TalkTalk following a sale after the telecoms business crashed into administration.
Launching in 2011, Origin developed its own infrastructure and hosted the sixth largest broadband network in the UK. Supplying phone and internet services to businesses and homes across the UK (with around 70,000 customers), it had premises in Rotherham town centre.
Gareth Harris and Jamie Miller of RSM Restructuring Advisory were appointed as joint administrators on September 24 2021.
A deal has been struck for Origin's customers, and around 100 staff, to move over to TalkTalk, the UK's leading value for money consumer and B2B telecoms provider, which is based in Salford.
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Originally based in Doncaster, Origin relocated with much fanfare to Manvers in Rotherham in 2018. Having posted a full year loss to March 31 2018 of £7m, funding of £6.75m was secured from investors during and after the financial year to return the business "to a positive net asset position combined with increased cash funds."
Hit by high costs and bad debts, directors were then forced to secure a Company Voluntary Arrangement (CVA) with its creditors in order to keep trading and the firm moved its address to the Old Town Hall in 2019.
Gareth Harris, RSM restructuring advisory partner and joint administrator, said: "In a very competitive market Origin had built a substantial customer base, which resulted in considerable interest in the business. It is therefore pleasing to announce the sale to a larger competitor ensuring continuity for Origin's customers and staff."
Last year, Origin directors established Consumer Choices Ltd at Manvers - a "comparison partner" for broadband and energy deals in the UK.
Origin Broadband website
Images: Origin
Launching in 2011, Origin developed its own infrastructure and hosted the sixth largest broadband network in the UK. Supplying phone and internet services to businesses and homes across the UK (with around 70,000 customers), it had premises in Rotherham town centre.
Gareth Harris and Jamie Miller of RSM Restructuring Advisory were appointed as joint administrators on September 24 2021.
A deal has been struck for Origin's customers, and around 100 staff, to move over to TalkTalk, the UK's leading value for money consumer and B2B telecoms provider, which is based in Salford.
Advertisement
Originally based in Doncaster, Origin relocated with much fanfare to Manvers in Rotherham in 2018. Having posted a full year loss to March 31 2018 of £7m, funding of £6.75m was secured from investors during and after the financial year to return the business "to a positive net asset position combined with increased cash funds."
Hit by high costs and bad debts, directors were then forced to secure a Company Voluntary Arrangement (CVA) with its creditors in order to keep trading and the firm moved its address to the Old Town Hall in 2019.
Gareth Harris, RSM restructuring advisory partner and joint administrator, said: "In a very competitive market Origin had built a substantial customer base, which resulted in considerable interest in the business. It is therefore pleasing to announce the sale to a larger competitor ensuring continuity for Origin's customers and staff."
Last year, Origin directors established Consumer Choices Ltd at Manvers - a "comparison partner" for broadband and energy deals in the UK.
Origin Broadband website
Images: Origin
6 comments:
Just a little bit more of The Golden Road to Recovery lands bellyfirst in Laybah Rovrum, duh 😂😂😂😂😂
What an irrelevant and juvenile comment for a business website.
"Anonymous" thank you for comment. PS, why do you hide as "Anonymous", surely you have a name like me. Be Bold, you may enjoy it, lol 😂😂🤔🤔
Haha, irrelevant, juvenile and FACTUAL.
I agree the comments made are irrelevant and it's a shame people feel the need to make comments at the detriment of others
Origin have always been in debt they management lined there own pocket before helping company they used to take money out of the company to built there own house and buy cars
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