IT recruiter Greatfleet has gone into administration, the company has announced.

In a statement the company said that on 29 July, and at its request, the company's invoice discounting provider SME Invoice Finance had appointed administrators.

SME appointed Michael Healy of Leonard Curtis and Paul Boyle of Harrisons as joint administrators to take over and manage the affairs of the company and its subsidiaries, it said.

The announcement followed the company's failure to agree repayment terms with an important creditor, which led to SME Invoice Finance refusing to continue lending to the company.

The company said that the administrators would continue discussions with parties interested in acquiring parts of the group's business.

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