WFS Technologies Limited (SC247354): administration
- Status
- Administration ended
- Administration began
- 2020-07-16
- Administrators
- Alistair Mcalinden, Blair Carnegie Nimmo
- Administrators' firm
- KPMG
- Formerly
- Wireless Fibre Systems Limited; Wifi Scotland Limited; DMWS 620 Limited
- Incorporated
- 2003-04-04
- Location
- Glasgow
- Industry
- 72190 Other research and experimental development on natural sciences and engineering
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- COVID-19
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
The Company was incorporated in April 2003 to develop and implement technology concerned with subsea wireless communication. It operated from leasehold premises in Livingston, Scotland and employed 19 people at the date of administration.
Throughout its period of operation, the Company sought to originate, appropriately protect, and then commerciaily exploit new technologies. In that regard it boasted a portfolio of registered intellectual property, as well as expertise inherent in its workforce.
2.2 Funding and financial position of the Company
Administrators' statement of proposals (2020-08-10) · Companies House register