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12.02.2018
WileyFox Europe under administration

WileyFox Europe, which was established in 2011 as a British mobile phone manufacturer and retailer, has now big troubles.

The company has lost its major funding source from its Russian parent company and has been placed into administration by Quantuma. Now, the company is administrated by Andrew Andronikou and Andrew Hosking. As Andrew Andronikou explained, the "company was primarily funded by Russian bank Promsyyazban which was bailed out by the Central Bank of Russia in December and put into special measures that restricted lending outside of the country". He added, that the company's working capital has been temporarily suspended.

WileyFox is under administration to ensure the distribution network of its handsets in Europe, until its issues with a Russian capital will be solved. There was 20 employees made redundant, only six persons of the core staff were retained. The administration is aimed to restructure the Wileyfox Group and reduce its costs, to ensure its long term future. Altough the European part of WileyFox is under administration, all other subsidiaries of the Wileyfox Group remain unaffected and operate as normal.

Source Quantuma; viewed: 159 times.

By:
Monika Krasicka-Kulińska

By:
Adam Łukowski




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  • Tomek
    Well, to be honest I can't wait for this device to hit the market big time. I just hope it'll be somehow available on Amazon or Ebay. I don't expect any carriers in EU or US to even give it a chance. Apple keeps their users away from any way of expanding the memory plus Meizu runs Android. I'd say that would be an iPhone killer.
    .kpn.net | 23 Dec 2010, 16:12

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