A London-based IT firm founded by MP Adam Afriyie has been sold after going into administration.
The 51-year-old entrepreneur founded Connect Support Services in 1993 and saw it ranked as a Virgin Fast-Track 100 business following rapid growth.
But in August administrators Kallis and Company were called in to review the company’s financial position after it racked up £1.7 million worth of debt with HMRC.
It has now been sold to an unnamed buyer.
A spokeswoman for Mr Afriyie said: “As you know, Adam has been very careful not to comment on his personal investments or finances.
“Since his election in 2005, Mr Afriyie has dedicated his time and attention on his parliamentary duties and serving his constituents.
“As an entrepreneur before entering Parliament, he still retains residual shares in some small UK business alongside investments in the USA, Australia and elsewhere, which are declared in the register of members' interests.”
Mr Afriyie has held his position as MP for the town since 2005.
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