Specialist engineering materials group, Versarien plc has announced its intention to appoint administrators this December 2025.
The move also lays out its intention to suspend trading on the Alternative Investment Market (AIM), along with the resignation of three of its non-executive directors.
Part of a restructuring process that sees the firm 'exploring options for the disposal of the Company's remaining assets', Versarien is taking advice from insolvency specialists at Leonard Curtis.
Sir Iain Gray CBE, Diane Savory OBE and Susan Bowen all resigned with immediate effect on Friday 28 November 2025.
In an official London Stock Exchange statement, Versarien said: 'Whilst there continues to be interest shown in acquiring these assets, the Board is conscious that, as previously advised, it is reliant upon the support of its creditors to continue its operations.
'Although creditors continue to be supportive, the Board has regrettably resolved to serve a notice of intention to appoint (NOIA) Leonard Curtis as administrators.
'During this time Leonard Curtis will seek to conclude a transaction with interested parties which may not necessarily result in administration. If a transaction is not concluded within this timeframe, the administration will proceed.'
Making quick work of the process, Versarien officially requested a suspension in the trading of its ordinary shares on AIM, which came into effect from 7.30am on Monday 1 December 2025.
The company's founder and former CEO Neill Ricketts appeared in SoGlos's 2024 list of 50 most influential individuals in business, though he resigned from the position in March 2023.
Versarien is expected to make further announcements as the situation develops. Stay up to date with SoGlos's Business newsletter and LinkedIn page.
