UKFast’s Lawrence Jones steps down in wake of serious allegations

UKFast founder Lawrence Jones has stepped down from his role as chief executive in the wake of allegations of sexual misconduct.

The Financial Times published detailed and serious allegations from former employees last week about Jones’s behaviour. Jones has denied the allegations, describing them as “wholly untrue”.

UKFast has now said it “acknowledges the serious allegations recently made in a national newspaper and is conducting an internal investigation”.

Lawrence Jones has tonight reiterated his denials.

“A number of false and malicious allegations have been made against me and I am absolutely determined to ensure that they are fully investigated so that my name can be cleared,” he said.

“The interests of the employees, clients and investors in the business are paramount and much more important than any one individual.

“In the meantime, I am confident that the business will continue to grow and prosper.”

Lawrence and Gail Jones own 61.8% of UKFast, with private equity investor Inflexion holding a 31.6% stake after it made a significant investment last December.

UKFast was founded in 1999 and has grown to become one of the UK’s largest privately-owned hosting providers. It provides hosting solutions to 5,500 SMEs and 200 mid-sized companies in the UK.

It achieved revenues of more than £50m last year, generating profits of more than £7m, and employs more than 350 people across its Manchester campus, London sales office and data centres.