20m education VAR Gaia calls in administrators

£20m education VAR Gaia Technologies based in Wales has called in the administrators following severe cashflow problems. 

Gaia provides ICT technology products and services to UK schools, colleges and universities, and a number of international establishments including in China.

Ben Woolrych and Anthony Collier from FRP Advisory were appointed joint administrators and they expect 'significant interest' in the company.

Collier said: “Gaia Technologies has grown rapidly over the last few years having secured a number of significant contracts, but severe cashflow issues have resulted in it being placed into administration.

“We are working to assess the financial position of the company and will be looking to identify parties who will take the business forward."

Gaia was established in 1992 and has circa 500 education customers, and is on the UK Department for Education’s approved list through the ICT service suppliers framework.

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