The IT recruitment firm Cardan International is in administration and is due to go into liquidation at the end of this month.

Insolvency practitioner B&C Associates has been appointed to oversee the corporate voluntary liquidation, which is expected to take place after a creditors’ meeting on 30 January.

A spokesman for the insolvency practitioners said it was unlikely the creditors would receive any dividend. But most of its contractors have found work after Cardan struck a deal with another agency that would allow them to continue working.

Managing director Jason Michaelson said unpaid debts were the main reason for Cardan’s problems: “A large blue- chip client owes us a lot of money and has disputed our invoices – even though we have signed timesheets. It’s an example of a big company taking advantage of a small company.”