Skills Matter... sadly, so does cash flow: 15-year-old London dev events biz enters administration
Buyer being sought
London-based events and training business Skills Matter has gone into administration.
Investment company Resolve Group was appointed as its administrator on 31 October 2019, it announced yesterday in a statement.
Skills Matter coordinated a variety of tech workshops, lectures, seminars and peer events within a dedicated venue in London. It also provided a networking platform for companies to share their "insights and experience" on developing technologies for the past 15 years.
"The Administrators are currently seeking to establish interest in purchasing the business and assets," said Resolve in a statement.
The CEO confirmed the move, tweeting: "To all the people @skillsmatter who made us who we were, I'm very sad and sorry that @skillsmatter has gone in administration."
The company said it had secured £2.5m in funding as recently as six weeks ago.
According to the firm's last Companies House filing, it employed 53 staff on average for 2018.
Net liabilities were £2.3m in at the 2018 year end, up from £1.4m the year before. As a small company, it is exempt from disclosing turnover and profit.
It mentioned in the filing that:
Since the (2018) year-end, further amounts of £675,000 in the aggregate have been raised by advanced share agreements and in May 2019 the Company entered into a contract to receive a further equity investment of £2.5m from an institutional investor by 30 September 2019.
London tech types – one of whom had to find a new venue in a hurry yesterday because of the move – expressed their regret on Twitter:
Very sad and shocking news about @SkillsMatter going into administration. It's been such an important part of the London software development world. I've been to, and spoken at, so many great events there over the years. Let's hope something can we worked out to save it.— Mike Hadlow (@mikehadlow) November 4, 2019
I am deeply sadden by this turn of events.#LinuxingInLondon and many tech communities really enjoy the fine hospitality and active support of team #SkillsMatter— Brian Linuxing 🇮🇪 🇪🇺💙 (@BrianLinuxing) November 4, 2019
I really wish them well :) https://t.co/UqnfguCUAN
So, turns out, @skillsmatter have gone into administration and cancelled all meetings and conferences 😢— El Rug (@lrug) November 4, 2019
We're looking for a new venue for tonight, and will let you all know if the meeting can still go ahead! https://t.co/W9FvNkc3qC
The Register has attempted to contact Skills Matter for further information. ®