Craig Richardson – CEO, Wynyard Group
Wynyard Group has placed itself in voluntary administration, as the software company battles crippling losses and missed revenue forecasts.
Revealed via a statement issued on the New Zealand Stock Exchange, the security focused firm advised shareholders following a difficult period in which the company lost $36.2 million for the six months ended June.
The Board considered all available options including potentially raising additional capital and drawing on the $10 million loan but concluded that neither raising further equity nor incurring debt was in the best interests of the company…
Read the full article at: http://www.reseller.co.nz/article/609112/wynyard-group-enters-voluntary-administration/