The future of digital, marketing and media recruiter Xchangeteam is in doubt following the failure of a management buyout. 

According to Pertemps, which acquired Xchangeteam out of receivership from FRP Advisory Services in November 2011, an attempted management buyout (MBO) led by founder Emma Brierley failed in August after the company ran into difficulties.

In a statement Pertemps tells Recruiter: “In June-August of this year, it [Xchangeteam] achieved only 20% of its budgeted turnover and was placed into interim administration pending Emma Brierley buying it back debt free.”

"At the end of August", the statement continues, Brierley “failed to complete the MBO and the company is awaiting a report from Butcher Woods & Co as to the viability of its continuation”.

According to Pertemps, Xchangeteam lost £500k in its first six months of trading under its ownership.  

Launched in 1999 by Brierley, Xchangeteam has offices in Bristol and London. Under the arrangement with Pertemps, Xchangeteam retained its own brand and operational independence. 

No one from Butcher Woods was available for comment. 

Xchangeteam was ranked 91st in last year’s Recruiter Hot 100 list of the most profitable recruitment companies.