Skills Matter... sadly, so does cash flow: 15-year-old London dev events biz enters administration

Buyer being sought

A man with no money in his wallet

London-based events and training business Skills Matter has gone into administration.

Investment company Resolve Group was appointed as its administrator on 31 October 2019, it announced yesterday in a statement.

Skills Matter coordinated a variety of tech workshops, lectures, seminars and peer events within a dedicated venue in London. It also provided a networking platform for companies to share their "insights and experience" on developing technologies for the past 15 years.

"The Administrators are currently seeking to establish interest in purchasing the business and assets," said Resolve in a statement.

The CEO confirmed the move, tweeting: "To all the people @skillsmatter who made us who we were, I'm very sad and sorry that @skillsmatter has gone in administration."

The company said it had secured £2.5m in funding as recently as six weeks ago.

According to the firm's last Companies House filing, it employed 53 staff on average for 2018.

Net liabilities were £2.3m in at the 2018 year end, up from £1.4m the year before. As a small company, it is exempt from disclosing turnover and profit.

It mentioned in the filing that:

Since the (2018) year-end, further amounts of £675,000 in the aggregate have been raised by advanced share agreements and in May 2019 the Company entered into a contract to receive a further equity investment of £2.5m from an institutional investor by 30 September 2019.

London tech types – one of whom had to find a new venue in a hurry yesterday because of the move – expressed their regret on Twitter:

The Register has attempted to contact Skills Matter for further information. ®

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