A receiver has been appointed to Cork based artificial intelligence firm, Altada.
Company Registration Office filings show Nicholas O'Dwyer from Grant Thornton was appointed today on behalf of four individual private investors in the technology company.
They provided a debenture to the firm in September, the records show.
The company did not respond to a request from RTÉ News for comment on the development.
In August, Altada temporarily laid off some Irish staff and let its US based team go as it worked to secure funding and stabilise the company.
It blamed the development on unforeseen market conditions which had affected its clients.
At the time the business also said it had also been forced to move its planned Series A fundraising round to later in the year.
It described the situation as temporary and claimed it was working on funding solutions to bring its team back within six weeks.
The company also said its creditors were supporting it and its management was confident about the future.
Altada was founded in 2017 by husband and wife team, Allan Beechinor who is the firm's CEO, and Niamh Parker, who is chief legal and people officer.
It has five offices around the world, including in Dublin and Cork, where it is headquartered.
Last September it closed an €11.5m funding round led by Rocktop Partners, Elkstone Partners and Enterprise Ireland.
