Receiver appointed to Cork-based data analytics firm Altada

RN Allan Beechinor is CEO and founder of Altada Technology Solutions.

A receiver has been appointed to Cork-based data analytics firm Altada.

According to the Companies Registration Office, Grant Thornton's Nicholas O'Dwyer has been appointed on behalf of four individuals who provided debt finance to the company in September.

Back in August, Altada temporarily laid off staff at its Irish operation due to “unforeseen market conditions”. 

The company employed 13 people in Ireland two years ago and had plans to create 100 jobs in the region.

“We realise that this is a very challenging time for our incredible employees.

“This is a temporary situation and we are working on funding solutions that will bring our full team back within six weeks,” the company said in a statement.

The company also let go of its US-based team and moved its planned Series A round to later in the year.

Founded in 2017, by husband and wife Allan Beechinor and Niamh Parker, Altada has grown to have offices across Europe employing around 70 people.