Datacentre provider Sungard AS entered administration, earlier this week.
Sky News claims the AWS and Dell partner has called in Teneo Restructuring to try and secure its future in the face of rising energy costs, a stand-off with landlords over rent prices and bad fallout from COVID-19.
Sungard customers include the NHS, Home Office and Npower and it runs datacentres and workplace recovery centres across the UK and employs nearly 300 people, with its EMEA headquarters based at Heathrow.
Benji Dymant, joint administrator at Teneo, said: “The ability for the business to continue to trade in the medium to long term, either to enable a rescue of the business as a going concern or to deliver individual asset sales, will be reliant upon burden-sharing from both customers and landlords alike.”
Sky News claims sources have said that the company had been attempting to secure improved payment terms with landlords since the start of the year but had been unable to reach an agreement.
The report adds that Teneo Restructuring has obtained interim funding to ensure the business can continue to run, with discussions over a sale taking place on an “accelerated basis”.
