Chad Griffin

N-Sea Offshore was launched in 2014 and is a subsidiary of the global N-Sea Group which is headquartered in the Netherlands.

N-Sea Offshore provides helps clients manage their subsea assets and infrastructure by providing a range of specialist Surveying, IMR (Inspection Maintenance and Repair) and intervention services to the O&G, Renewables, Cable, Telecoms and Civil engineering sectors.

The business delivered the services via specialist teams, bespoke technology and systems, data management expertise, diving equipment and a fleet of vessels, ROVs and ROTVs.

The administration has been caused by a lack of contracts, rising operational costs and a collapse in income leading to unsustainable cash flow problems. The business has ceased trading with immediate effect.

Chad Griffin, partner with FRP, said: “N-Sea Offshore is an established specialist subsea service business that had undertaken a wide range of contracts for numerous clients operating in the North Sea. Despite every effort by the Directors to keep the business trading and ensure the company could survive the downturn in the North Sea, the severe financial problems meant that administration was the only option. We will now wind down the business and will be looking to sell the extensive assets as soon as possible.

“Unfortunately, all 30 members of staff have been made redundant with immediate effect. Our priority will now be to work closely with the Redundancy Payments Service and other agencies to minimise the impact on the employees. We would also ask any parties interested in the assets that will be for sale to contact FRP as soon as they can on 0330 055 5455.”