Big Data for Humans, a data analytics firm founded by Peter Ellen – the former chief of music chain Fopp – has entered into administration.
Providing data science services for retailers and travel companies, the firm counted major brands, such as Tesco, 7-Eleven, Selfridges and Co, Carter and AirAsia, as clients.
According to administrators, Eileen Blackburn and Brian Milne from accountancy firm French Duncan, the company had been plagued by financial problems, including cash flow issues caused by the late payment of an invoice by a “significant” client.
Blackburn attributed the company’s downfall to “economic slowdown and uncertainty due to the economy; a company structure that caused problems in accepting new investment; and ill health with one of the directors who had to withdraw from the business for a significant time.”
She added: “The result was that the company fell behind with key bills as they arose, and its creditors lost patience. This was a strong company performing well among an excellent array of clients with a highly regarded range of products which we expect will be acquired by another company.”
The administrators are marketing the assets of the Edinburgh-based company, which has four employees, including its cloud-based marketing software. It is also marketing two European trade marks for Big Data for Humans and Bd4H, copyright of web content, domain names and social media assets.
Blackburn said: “All insolvency is unfortunate but, in this case, there really were extenuating circumstances that led to the administration of this company. As these circumstances were unique to the company, I would expect a reasonably quick sale of its assets and a return for its creditors.”