UK-based workspace management vendor Centrix Software is being marketed for sale after entering administration.
The firm, whose reseller partners included SCC and Softcat, is continuing to trade after appointing turnaround specialist David Rubin and Partners as its administrator on 27 October.
Talking to CRN, Asher Miller, who is handling the adminstration, said Centrix had run out of cash but was a "strong and stable business", adding that 25 staff have been retained to ensure development and support is maintained throughout the insolvency process.
Centrix's WorkSpace IQ is a usage analytics tool designed to help firms decide "who is using what, where and when across the end-user environment, users, applications and content".
Miller said he hoped a trade sale to a competitor would be achieved in the coming weeks.
"Administration is a rescue procedure and there is a strong, stable underlying business there," he said.
"We have just started marketing it to the trade. We would hope to find a new home for it in the next few weeks or couple of months, perhaps with a competitor who buys the intellectual property and takes the team as well."
Miller said that Centrix's majority investor, Ki Corporation, is continuing to fund the Newbury-based firm, which lists the likes of SCC, Softcat, Kelway, Crayon and Trustmarque as partners on its website.
"The underlying product had been supported by Ki for some time but the infrastructure was such that it was just costing too much and it needed a change in infrastructure and strategic direction," he said. "It ran out of all its money due to cash burn."
CRN has attempted to contact Centrix for comment, and is waiting to hear back.
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