E-commerce fulfilment and supply chain solutions company Ability Corporation has gone into administration, following its inability to obtain funding from its parent company.
Forty staff look set to lose their jobs, according to sources within the company.
Around the world, Ability Corp is in retreat. Former staffers said it had cut back its work force in recent times from a high about 250 staff, to less than 100.
It is believed that the UK operation has already felt the chill wind of retrenchments. There was no one at the UK office at the time of publication (before 8:30am London time).
The closure follows a series of unfortunate events in recent times for Ability. In the last four months the company has closed its New Zealand office, laid off its sales director and had its CFO resign. Only a month ago, the company was forced to lay off 25 per cent of its workforce.
Although these events signalled to staff that the end was nigh, nobody had expected it to happen so soon, according to the source. Apparently the local company was on track to make its numbers this quarter.
The major concern for the 40 employees who were shown the door yesterday is that they get paid.
Arthur Andersen has been called in as administrator, but could not be contacted for further information at the time of publication.