Dubai-based baby products ecommerce platform Sprii has been placed into liquidation after running out of cash,MENAbytes has learned. A board resolution was passed to place the company into liquidation, appointing accounting firm Grant Thornton as its liquidator.
Spriis founder and CEO Sarah Jones wrote a letter to stakeholders informing them about the decision.
As a result of our inability to raise further capital to support the ongoing trading of Sprii, coupled with the conclusion of an unsuccessful campaign to sell the business, I have been forced to take significant steps that will impact the future of the business, said Jones in the letter, which was seen by MENAbytes.
The startup had raised close to USD 15 million, including USD 8….
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