THE boss of a Worcester company has said the firm has been saved after suffering recent financial trouble.

It follows SME Broker Services International staff claims they weren't paid early before Christmas - as promised by management - which led to an online fundraiser to support staff.

The Worcester News has seen a leaked email, understood to have been sent to staff of the Diglis-based firm in December, in which they were informed it had entered administration.

The email said: "I will be calling everyone, individually, to discuss those that will still be employed via a new phoenix company.

"Not all of you will have a job. Those that don't can claim wages owed via the government.

"Technically and contractually the wages aren't due until the end of the month - at this point we have just failed to deliver on a statement that we'd pay wages early (on December 23).

"It was not meant to come to this, clients let me down and shareholders were supposed to save us."

After the email was sent a JustGiving page was set up entitled: "This page is set up for the employees of SME Broker Services International who have been left without their December wages on Christmas Eve."

The page shows £110 was raised.

The Worcester News understands the page was set up by a former employee.

A former employee, who did not wish to be named, told us: "To have the audacity not to pay them - it has been damaging for them, especially around Christmas time."

The Worcester News understands although the December 23 deadline was not met, wages were paid on December 30.

On Companies House SME Broker Services International Services Ltd - the firm that went into administration - is showing overdue accounts that should have been submitted before November 30.

In a statement Alex Nicholls, managing director, told us: "Unfortunately, SME Broker Services International Ltd faced financial troubles in December 2021 due to Covid as well as the energy crisis - energy companies make up a large proportion of our clientele, as shown on our website.

"The company has entered administration, however, every staff member but one have been offered a new position at a new phoenix SME Broker Services entity.

"This is backed by an investor, meaning around 20 jobs have been saved. This is similar to what we did in January 2019."