Analytics firm in administration
Big Data for Humans hoping to secure quick buyer
Incremental Group CEO Neil Logan and Big Data for Humans CEO Peter Ellen
A Scottish data science firm has collapsed into administration and is hoping to find a buyer in a quick sale.
Edinburgh-based Big Data for Humans, which has four employees, provided customer insight data for retailers and travel companies.
In October it announced a strategic partnership with Neil Logan’s Incremental Group which intended “to dramatically scale services to its global client base.” They have included Tesco, 7-Eleven, Selfridges, Cartier and AirAsia.
The assets of the business are being marketed and include cloud-based marketing software including two registered European trade marks, copyright of web content from its website and social media assets.
Eileen Blackburn, of administrator French Duncan, 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.
“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.”
Ms Blackburn concluded: “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.”
