CloudKubed, a UK data and AI solutions specialist, has appointed receivers less than two years after securing £16.2 million in government contracts.
Despite its claims of expertise in cloud adoption, the company reported a turnover of less than £6.5 million, indicating potential operational challenges.
Founded in May 2021, CloudKubed had contracts with major UK government departments but has now collapsed, questioning the sustainability of rapid growth in the tech sector.
The company's appointment of FRP Advisory for administration highlights the volatility and unpredictable nature of the tech industry, particularly for startups.
#uk-government #cloud-computing #data-solutions #administrative-receivership #tech-industry-challenges
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