Coordimax business unit set for liquidation

Coordimax business unit set for liquidation

CRM specialists, Maestrosuite, looks set to go under with first creditors meeting set for Friday

Business software provider, Coordimax, has approached liquidators and may close its CRM solutions unit, Maestrosuite.

Liquidator for Grant Thornton charted accountants, Edwin Clarke, confirmed there had been a meeting with the unit being tentatively put forward for liquidation, but said nothing could be confirmed until the first creditors meeting set for Friday.

Managing director of Coordimax, Martin O’Connor, denied any other units within the company were under threat, and said the Maestrosuite unit was a casualty of the economic crisis.

“CRM solutions, and other similar investment areas are struggling as organisations look to minimise costs instead, so we found the market for it has just flattened,” O’Connor said.

“Maestrosuite comprised of six people. The rest of the business is doing well – we’re finding that as organisations are finding it difficult to raise cash, our asset management business is booming.”

Late last year, Coordimax acquired asset management organisation, Pinnacle.

O’Connor said the company had a number of substantial contracts that it would soon announce, and it was also in the process of refreshing its website as part of its growth plans.

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