Torridon under provisional liquidation

Connectivity vendor fails to raise cash

Receivers have moved into troubled media connectivity product vendor Torridon following its failed struggle to raise enough capital to stay afloat.

The Edinburgh-based company went into provisional liquidation last week, the equivalent of administrative receivership under Scottish law.

Fraser Gray, of official receiver Kroll Buchler Phillips, confirmed that it was seeking a sale of the assets of the business and said a "closing date will be set for interested parties".

Torridon restructured in April to focus on IP licensing and moved away from the channel into a more direct sales model. Over the past 12 months the company dropped out of the memory market with the sale of Memory Plus.

Brian Burke, manager at D&B Computanet, said: "Torridon has had a difficult few weeks running around and trying to secure fresh capital: a difficult feat in the current market," he said.