A CASH crisis has hit a computer firm just months after a major expansion move.

Administrators have been appointed to Bridge Computer Systems Ltd - sponsors of Accrington Stanley - to protect it from creditors.

Creditors of the firm, which employs around 20 people, have been told the cash crisis has been partly caused by the higher than expected costs of the firm's move from Nelson to a new building on the Network 65 business park in Burnley. The administration order effectively gives the firm breathing space and time to put together proposals to repay creditors.

Bridge, which specialises in installing computer systems and is an internet service provider, is still trading and the administrators say it has good prospects if it can overcome its current cash crisis.

Boss David Price today stressed that the firm was seeking a financial restructuring.

"There are no redundancies, the business is sound and we are expanding rapidly. We hope to be out of administration in a couple of weeks."

A creditors meeting is due to be held on January 13 in Manchester when those owed money will be asked to vote on a Creditors' Voluntary Arrangement.

Under a CVA a company continues to trade and pay off creditors at an agreed rate. It is an alternative to a company going into liquidation which often means unsecured creditors get none of the money they are owed.

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