Accounting Firms

Henderson Loggie appointed liquidator of Ajenta

It is reported that eight jobs have been made redundant at the firm, while a small team has been retained to continue to provide the Vscene service to the existing customers

Henderson Loggie’s business recovery and insolvency partner, Shona Campbell, has been appointed by video tech firm, Ajenta, the parent company of the platform Vscene, as the company’s liquidator. 

The move to liquidate Ajenta is said to be a result of the severe impact Covid restrictions have had on its ability to supply hardware to customers, and despite experiencing its strongest ever trading in recent months, the business was reportedly unable to overcome cash flow difficulties brought on by the pandemic.

Ajenta acquired the Vscene platform in 2018 from educational charity JISC. Since then, its developers and engineers have further tailored the service to provide market-leading secure video collaboration for over 10,000 customers in education, research and public sectors worldwide.

It is reported that eight jobs have been made redundant at the firm, while a small team has been retained to continue to provide the Vscene service to the existing customers while the liquidator explores the sale of the business and assets.

John Wilson, founder of Ajenta, said: “Like many businesses, we experienced a damaging drop off in trading activity during the pandemic which has resulted in a mounting cash flow deficit. 

“Vscene provides immersive virtual classroom technology that provides flexible and equitable access for remote students into physical classrooms. We are now seeing sharply increasing demand for our services as educational institutions continue to develop hybrid models for teaching and learning.”

He added: “Unfortunately, this increase in sales has not been enough to close the financial gap created during lockdown. We were confident that additional investment could be secured until recently, and as soon as it was established that this wasn’t possible, we took steps to seek advice from an insolvency practitioner. 

“I regret that we have been unable to continue trading, but our customers will not see any change to their existing service as we already have some interest from potential purchasers of the business.”

Shona Campbell, business recovery and insolvency partner at Henderson Loggie, said: “Ajenta has recurring revenue from the Vscene service, a strong order book, and pipeline of future potential orders, so we are hopeful of a speedy and satisfactory sale. In the meantime, we will ensure staff receive their full redundancy entitlements and will work with the remaining team to maintain a high level of service for existing customers.”

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