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UK arm of Sungards is forced into administration

28 March 2022

Due to mounting energy costs and no agreement being made with landlords over rent cuts, the British arm of major international data management operator, Sungards, has been forced into administration.

Teneo Restructuring has been brought in to manage the administration, attempting to rescue its future. It is understood that Teneo have obtained interim funding to trade the business whilst discussions occur with potential buyers in the meantime.

Sungards UK operations handles clients such as JP Morgan and the Home Office. It provides cloud-based services as well as physical data centres. The firm employs almost 300 people.

It is understood that customers have been informed about this situation, as of Monday.

For reference, the entity which has gone into administration goes by the name, Sungard Availability Services UK.

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