Jobs at Platform Nine saved by Quantuma administrators

14 January 2025 Consultancy.uk

When Platform Nine went into administration, the firm appointed professionals from Quantuma to oversee the process. They quickly secured a pre-pack deal, which protected more than 20 roles across East Sussex.

Founded in 2016, Platform Nine (which traded as PLATF9RM) was a brand within Brighton and Hove, known for its creative and community-focused approach. Its premises include coworking and office accommodation and meeting rooms, with a café and events space, which aimed to provide creative professionals, artists and entrepreneurs a space to collaborate and thrive within.

With changes to working habits resulting from the pandemic, however, the office-space business has encountered sustained problems in recent years. While the business reported turnover of £2.9 million in 2023, legacy issues left Platform Nine with cashflow issues which left it unable to restructure outside of a formal insolvency.

To that end, Quantuma's Sean Bucknall and Elias Paourou were appointed as joint administrators of Platform Nine in the final week of December 2024. With the assistance of solicitors from DMH Stallard, the experts quickly completed a sale to Freedom Works – a company with experience in the office space sector in the region.

The pre-pack deal for Platform Nine secured the future of the business which has premises in both Brighton and Hove. It also meant that every one of the 26 employees at Platform Nine had their roles preserved, and they will now transfer to Freedom Works under TUPE regulations.

Speaking on the deal, Bucknall, who is a managing director at Quantuma, noted, "I am delighted to have achieved such a positive outcome for this reputable and well-established business. We are very pleased to have secured the long-term viability of the business, ensuring that all employees' jobs have been saved and allowing the business to continue its journey following this sale to a buyer with the ability to take Platform Nine forwards.”

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