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101 jobs go in dog-eat-dog dotcom world

E-outfit must have been barking up the wrong tree

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Internet Security Threat Report 2014

The "sudden collapse of confidence in worldwide dotcom sector" has been blamed for the loss of 101 jobs in Northern Ireland.

Lution -- an incubator outfit for embryonic dotcoms -- only managed to stay alive for ten months before pulling the plug on its business.

And this from an e-outfit that claimed it was "helping to build tomorrow's economy".

In a statement issued by Belfast-based parent, BIC Systems Group, the company said: "The closure of the local company has come about as a consequence of the sudden collapse of confidence in the worldwide dotcom sector following the failure of several major international technology companies in recent weeks."

According to what's left of Lution's Web site the company's raison d'etre was to "nurture young firms, helping them to grow during the start-up period when they are most vulnerable". Shame it didn't take its own advice.

It's unclear how the collapse of Lution will affect start-up dotcoms that were on its books. Although lifestyle outfit, activelives.co.uk, is quoted on the Lution Web site, Simon Hamlyn, marketing director of activelives.co.uk, said his company deals directly with Lution's parent, BIC Systems Group.

We've been unaffected by the collapse, he said.

The demise of Lution could also send out shockwaves in the world of competitive motor sport. Lution sponsored Simon Harrison and his team in the National Saloon Championship. ®

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