Software company Wynyard Group has been put in voluntary administration.
KordaMentha partners Neale Jackson and Grant Graham have been appointed administrators of the company, which creates security software for use by companies and law enforcement agencies.
Computer keyboard
Photo: 123RF
It’s been a difficult year for Wynyard, with its board warning in August that the company’s future was in question and signalling uncertainty underlying its assumptions about cash-flow and future sales.
The New Zealand firm reported a loss of $36.2 million for the six months ended June, and has struggled to deliver on forecasts of earnings and revenue, while it has burned through its cash in developing products and markets.
The …
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