Informatics UK goes titsup
Sound the Retreat
Informatics Group UK (IGUK)went into administration today, following the decision of its Singapore parent to scale down IT training and e-learning ops in the UK.
Withdrawing from IGUK - where it is a 60 per cent shareholder -will cost Informatics Holdings S$1.84m (c. £625.000), but it will staunch what it says is the its only significant cash-flow drain. IGUK lost S$5m (c. £1.7m) in the first half of the current financial year, its parent company said in a statement.
Informatics Holdings will continue to trade in the UK through NCC Education, and accrediting and education services business. ®