Hope for 150 workers under jobs threat as progress in discussions to buy firm out of administration

Administrators say talks to save 150 jobs at a leading North Wales tech company are "progressing well".

Gaia Technologies was started up in Bangor, Gwynedd, more than 25 years ago and had grown rapidly in recent years.

But the provider of ICT technology, products and services - supplying hundreds of schools, colleges and universities - went into administration last month due to cash flow issues.

Gaia Technologies headquarters Bangor (Publicity)

FRP Advisory LLP were appointed as administrators of the firm which has continued to trade.

The company have now given an update on progress - with hopes a deal can be found to secure the firm and the jobs of the 150 strong workforce.

A spokesman said: "Since being appointed on 16 August, the Joint Administrators have been in discussion with a number of parties interested in taking the business forward.

"These discussions are ongoing and are progressing well. In the meantime, the business continues to trade as usual.

"A further update will be given in due course.”