A start-up seen as one of the Scottish technology sector’s brightest prospects has failed.
Accountants from French Duncan have been appointed administrators of Edinburgh-based Big Data for Humans.
The company, which has four employees, provided data science services for customer marketing specialising in retailers and travel companies.
Clients have included Tesco, 7-Eleven, Selfridges and Co, Cartier and AirAsia.
The assets of the business are currently being marketed and include cloud based marketing software and European trade marks.
Eileen Blackburn, French Duncan’s head of restructuring and debt advisory, said: “The financial problems faced by this company were due to a number of circumstances including cash flow problems caused by the late payment of an invoice by a significant client; the economic slowdown and uncertainty due to the economy; a company structure that caused problems in accepting new investment; and ill health with one of the directors who had to withdraw from the business for a significant time.
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“The result was that the company fell behind with key bills as they arose, and its creditors lost patience. This was a strong company performing well among an excellent array of clients with a highly regarded range of products which we expect will be acquired by another company.
“All insolvency is unfortunate but, in this case, there really were extenuating circumstances which led to the administration of this company. As these circumstances were unique to the company, I would expect a reasonably quick sale of its assets and a return for its creditors.”
