Tech

Receiver appointed to Altada following months of financial difficulties

Troubled tech firm has been dealing with financial woes since a planned funding round fell through earlier this year

Altada co-CEOs Allan Beechinor and Niamh Parker

A receiver has been appointed to Altada, the troubled Cork-based technology company.

A filing confirming that Nicholas O’Dwyer of Grant Thornton had been appointed as receiver to the company was lodged with the Companies Office today. The receiver has been appointed by Grattan Boylan, Alan Bruce, Lynn Bruce and Noreen Gallagher - four investors who provided an estimated €500,000 in debt finance to the firm in recent months.

Altada, which is led by husband and ...