Earlier this year, Bytecraft has injected £60,000 into the troubled company and had, in fact, been implementing Stage 5 of its international strategy that called for a permanent presence in the UK. An investment position in Caire Ltd added value to the opening of a UK daughter company Bytecraft Europe with potential to deliver some inter-company business. "When analysing the sales opportunities and current order book, an investment in Caire Ltd appeared sound. We could never have anticipated the recent turn of events," Rowland said. "The largest creditor and debtor to Caire Ltd is Caire SA and the directors were unable to agree on a payment schedule. We therefore had no alternative than to take the onerous, but responsible, decision to close the company."
"Bytecraft Automation has been negotiating several contracts separately from Caire Ltd. These contracts are being put together by our UK staff, but are contracted and funded by Bytecraft HQ in Melbourne, Australia. These unfortunate events will have no bearing on the continuation and bringing to fruition of these contracts." Claude Caire will be addressing the creditors meeting in early July with the provisional liquidator, Shay Lettice of Peter Elworthy & Moore.